Short Interest in SuperCom, Ltd. (NASDAQ:SPCB) Declines By 50.9%

SuperCom, Ltd. (NASDAQ:SPCB) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 108,985 shares, a decrease of 50.9% from the July 15th total of 222,065 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 75,420 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings raised SuperCom from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Wall Street Zen raised SuperCom from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SuperCom presently has an average rating of “Sell”.

Hedge Funds Weigh In On SuperCom

Hedge funds have recently modified their holdings of the stock. Corsair Capital Management L.P. raised its holdings in SuperCom by 7.8% during the fourth quarter. Corsair Capital Management L.P. now owns 118,571 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 8,571 shares in the last quarter. Stifel Financial Corp grew its stake in SuperCom by 310.5% in the fourth quarter. Stifel Financial Corp now owns 117,000 shares of the industrial products company’s stock valued at $1,059,000 after purchasing an additional 88,500 shares in the last quarter. XTX Topco Ltd bought a new position in SuperCom in the fourth quarter valued at approximately $141,000. LPL Financial LLC acquired a new position in shares of SuperCom during the 4th quarter worth approximately $92,000. Finally, Citadel Advisors LLC acquired a new position in shares of SuperCom during the 3rd quarter worth approximately $254,000. Institutional investors own 47.81% of the company’s stock.

SuperCom Stock Up 5.6%

Shares of NASDAQ SPCB traded up $0.61 during midday trading on Monday, reaching $11.36. The company’s stock had a trading volume of 101,412 shares, compared to its average volume of 80,071. The stock has a 50 day simple moving average of $10.93 and a 200-day simple moving average of $9.81. The company has a current ratio of 7.96, a quick ratio of 7.49 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $63.00 million, a price-to-earnings ratio of 6.63 and a beta of 1.17. SuperCom has a fifty-two week low of $7.07 and a fifty-two week high of $13.57.

SuperCom (NASDAQ:SPCB) last announced its earnings results on Thursday, August 13th. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. SuperCom had a net margin of 2.92% and a return on equity of 21.28%. The business had revenue of $8.09 million during the quarter, compared to analysts’ expectations of $7.15 million.

SuperCom Company Profile

SuperCom Ltd. (NASDAQ: SPCB) is a technology firm specializing in electronic monitoring, digital identity and secure IoT solutions. The company develops and delivers hardware and software platforms designed to monitor individuals in correctional and pre-trial settings, as well as to provide secure digital identity credentials for governments and commercial clients. SuperCom’s core offerings include GPS and radio frequency (RF) tracking devices, biometric readers, secure communications modules and cloud-based monitoring portals.

In addition to correctional monitoring, SuperCom has expanded into the digital identity and eHealth sectors.