Short Interest in SURO Capital Corp. (NASDAQ:SSSS) Grows By 39.9%

Key Points

• Short interest in SURO Capital Corp. increased by 39.9% in August, reaching a total of 192,500 shares as of August 31st.
• The company recently reported an EPS of ($0.16) for the quarter, slightly surpassing expectations, though revenue fell short of estimates at $0.17 million.
• Insider transactions noted that CEO Mark D. Klein purchased 10,000 shares at an average price of $8.45, raising their stake in the company to approximately 1.53 million shares.

SURO Capital Corp. (NASDAQ:SSSS - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 192,500 shares, a growth of 39.9% from the August 15th total of 137,600 shares. Based on an average daily trading volume, of 229,200 shares, the short-interest ratio is presently 0.8 days. Approximately 0.9% of the company's stock are sold short. Approximately 0.9% of the company's stock are sold short. Based on an average daily trading volume, of 229,200 shares, the short-interest ratio is presently 0.8 days.

SURO Capital Stock Performance

Shares of SSSS stock opened at $9.10 on Tuesday. The company has a market capitalization of $217.38 million, a price-to-earnings ratio of -4.81 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 22.50 and a current ratio of 22.50. The company has a 50-day simple moving average of $8.62 and a 200 day simple moving average of $6.90. SURO Capital has a 52 week low of $3.77 and a 52 week high of $9.50.

SURO Capital (NASDAQ:SSSS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. The business had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.50 million. SURO Capital had a net margin of 2,015.55% and a negative return on equity of 6.10%.

SURO Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 11.0%. SURO Capital's payout ratio is presently -52.91%.

Insider Transactions at SURO Capital

In other SURO Capital news, CEO Mark D. Klein purchased 10,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $8.45 per share, for a total transaction of $84,500.00. Following the purchase, the chief executive officer owned 1,530,590 shares of the company's stock, valued at approximately $12,933,485.50. This represents a 0.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.69% of the company's stock.

Institutional Trading of SURO Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of SURO Capital by 222.2% during the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company's stock worth $27,000 after buying an additional 2,253 shares during the period. Raymond James Financial Inc. bought a new stake in SURO Capital in the 2nd quarter valued at about $31,000. Millennium Management LLC bought a new stake in SURO Capital in the 4th quarter valued at about $65,000. Jane Street Group LLC bought a new stake in SURO Capital in the 4th quarter valued at about $67,000. Finally, Jump Financial LLC bought a new stake in SURO Capital in the 1st quarter valued at about $59,000. Institutional investors own 12.95% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSSS. BTIG Research set a $10.00 price target on shares of SURO Capital and gave the company a "buy" rating in a research note on Tuesday, July 1st. Barrington Research lifted their price target on shares of SURO Capital from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Citigroup restated an "outperform" rating on shares of SURO Capital in a research note on Wednesday, July 16th. JMP Securities boosted their price objective on shares of SURO Capital from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of SURO Capital from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $10.00.

SURO Capital Company Profile

SuRo Capital Corp. is a business development company. The firm seeks to invest in growth capital, late stage and venture capital-backed private companies. SuRo Capital Corp. was founded in 2010 and is based in San Francisco, California with additional office in New York, New York.

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