Harris & Harris Group, Inc. (NASDAQ:TINY)

CAPS Rating: 4 out of 5

A venture capital company that operates as a non-diversified business development company. Invests in tiny technology including nanotechnology, microsystems and microelectromechanical systems (MEMS).

Recs

3
Player Avatar seitzdogg (< 20) Submitted: 8/19/2011 12:27:07 PM : Outperform Start Price: $4.06 TINY Score: -74.14

This has become a value play!As of June 30th, the Net Asset Value per share of TINY was $5.43. Now, I understand that the market has fallen considerably since June 30th....but the bulk of TINY's business (some 75%) are privately-held businesses. There will be a certain hit to the NAV by the depreciation in stock price of Solazyme since its IPO's from TINY, but do the math. TINY owns 2.3 million shares of SZYM and on June 30th those shares were worth $23 resulting in a value of $53 million. Today, the price of SZYM has dropped $14, giving those shares a value of $32 million, a difference of $21 million, ouch. There are 31 million shares of TINY outstanding so the resulting hit to NAV would be $0.68. That leaves TINY with a current NAV by my prediction of $4.75. Historically, TINY has traded at a minimum of 1.1 times NAV which results in a price tag of $5.23. I'm long TINY.

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