Zacks Investment Research Downgrades NeXt Innovation (GSVC) to Hold

NeXt Innovation (NASDAQ:GSVC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “GSV Capital Corp. is an externally managed non-diversified closed-end management investment company. The Company invests principally in the equity securities of venture capital-backed, rapidly growing emerging companies. It acquires its investments through secondary market transactions, direct investments with portfolio companies and through transactions executed on public securities exchanges. The Company is managed by GSV Asset Management, LLC. “

GSVC traded down $0.12 during trading on Wednesday, reaching $6.42. The company had a trading volume of 162,522 shares, compared to its average volume of 303,883. The company has a market cap of $127.25 million, a PE ratio of -17.35 and a beta of 1.66. NeXt Innovation has a 52 week low of $4.99 and a 52 week high of $8.39. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.18.

NeXt Innovation (NASDAQ:GSVC) last issued its quarterly earnings results on Thursday, March 14th. The investment management company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $0.53 million during the quarter. NeXt Innovation had a negative return on equity of 3.34% and a net margin of 697.12%. As a group, research analysts anticipate that NeXt Innovation will post 1.02 earnings per share for the current fiscal year.

About NeXt Innovation

GSV Capital Corp. is specializing in growth capital, B round and beyond, emerging growth, and pre-IPO investments in late stage venture-backed private companies. It makes direct (primary rounds) investments in companies and also makes secondary direct investments. The fund may also invest in select publicly-traded equity securities of companies that otherwise meet its investment criteria.

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