SuperCom, Ltd. (NASDAQ:SPCB) Short Interest Down 50.9% in July

Key Points

• SuperCom’s short interest fell 50.9% to 108,985 shares as of July 31, representing 2.4% of shares outstanding and a short-interest ratio of 1.4 days.
• Institutional ownership stands at 47.81%, with firms including Corsair Capital Management and Stifel Financial increasing their positions; Stifel’s stake rose 310.5%.
• SuperCom reported quarterly earnings of $0.52 per share, beating estimates of $0.28, while revenue of $8.09 million exceeded the $7.15 million consensus forecast. Despite one analyst upgrade, the stock retains an overall “Sell” rating.

SuperCom, Ltd. (NASDAQ:SPCB - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 108,985 shares, a decline of 50.9% from the July 15th total of 222,065 shares. Based on an average daily trading volume, of 75,420 shares, the short-interest ratio is presently 1.4 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Trading of SuperCom

Several hedge funds have recently added to or reduced their stakes in the business. Corsair Capital Management L.P. boosted its position in SuperCom by 14.7% during the first quarter. Corsair Capital Management L.P. now owns 135,971 shares of the industrial products company's stock valued at $1,065,000 after buying an additional 17,400 shares during the period. Stifel Financial Corp grew its stake in shares of SuperCom by 310.5% during the fourth quarter. Stifel Financial Corp now owns 117,000 shares of the industrial products company's stock valued at $1,059,000 after buying an additional 88,500 shares during the last quarter. Apis Capital Advisors LLC increased its holdings in shares of SuperCom by 5.3% in the fourth quarter. Apis Capital Advisors LLC now owns 99,000 shares of the industrial products company's stock worth $896,000 after buying an additional 5,000 shares during the period. Citadel Advisors LLC bought a new stake in shares of SuperCom in the 3rd quarter valued at about $254,000. Finally, XTX Topco Ltd bought a new stake in shares of SuperCom in the 4th quarter valued at about $141,000. 47.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

SuperCom Price Performance

Shares of SuperCom stock opened at $10.75 on Friday. The firm has a market capitalization of $59.66 million, a PE ratio of 215.00 and a beta of 1.17. The company has a current ratio of 7.96, a quick ratio of 7.49 and a debt-to-equity ratio of 0.43. SuperCom has a 12 month low of $7.07 and a 12 month high of $13.57. The business's 50-day moving average price is $10.93 and its 200-day moving average price is $9.81.

SuperCom (NASDAQ:SPCB - Get Free Report) last released its earnings results on Thursday, August 13th. The industrial products company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.24. SuperCom had a return on equity of 21.28% and a net margin of 2.92%.The company had revenue of $8.09 million during the quarter, compared to the consensus estimate 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.

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