Firsthand Technology Value Fund (NASDAQ:SVVC) has recently caught the attention of stock analysts at StockNews.com, who have started covering the company in a research report issued on Monday. In this report, the brokerage set a “hold” rating on the investment management company’s stock.
Firsthand Technology Value Fund’s stock performance shows that shares opened at $0.23 on Monday. The company has a 52-week low of $0.17 and a 52-week high of $0.99, with a market capitalization of $1.60 million. The stock has a P/E ratio of -0.04 and a beta of 1.43. It has a 50-day moving average price of $0.25 and a 200-day moving average price of $0.28.
Recent institutional inflows and outflows show that Atria Wealth Solutions Inc., a hedge fund, recently acquired a new stake in Firsthand Technology Value Fund stock in the first quarter, valued at approximately $79,000, owning around 33% of the company as per its most recent SEC filing.
Approximately 52% of Firsthand Technology Value Fund’s stock is owned by hedge funds and other institutional investors.
Firsthand Technology Value Fund Inc is an investment firm that specializes in venture capital investments in startups, early to late-stage companies as well as pre-IPO companies, unprofitable or marginally profitable businesses with negative net worth or involved in bankruptcy or reorganization proceedings.
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In conclusion, while there is no clear indication as to what prompted StockNews to issue their “hold” rating on Firsthand Technology Value Fund’s stock, it’s essential to keep an eye on any further developments regarding this investment opportunity before making any significant financial decisions about it.
