SuperCom, Ltd. (NASDAQ:SPCB) Short Interest Update

Key Points

• Short interest surged 189.5% to 222,065 shares as of July 15, representing approximately 4.9% of SuperCom’s outstanding stock and 2.6 days to cover.
• Institutional investors own 47.81% of SPCB, with several funds increasing their positions; Stifel Financial expanded its holdings by 310.5% during the fourth quarter.
• SPCB shares rose 0.2% to $10.73, while the company reported quarterly EPS of $0.36 and revenue of $7.48 million, exceeding analyst estimates. Despite one upgrade to “buy,” MarketBeat’s consensus rating remains “Sell.”

SuperCom, Ltd. (NASDAQ:SPCB - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 222,065 shares, an increase of 189.5% from the June 30th total of 76,717 shares. Based on an average daily volume of 84,655 shares, the days-to-cover ratio is presently 2.6 days. Approximately 4.9% of the company's stock are short sold.

Hedge Funds Weigh In On SuperCom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPCB. Corsair Capital Management L.P. boosted its position in shares of 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 last quarter. Stifel Financial Corp grew its holdings in 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 purchasing an additional 88,500 shares during the period. Apis Capital Advisors LLC increased its position in 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 in the last quarter. Citadel Advisors LLC bought a new position in shares of SuperCom in the third quarter worth about $254,000. Finally, XTX Topco Ltd bought a new position in shares of SuperCom during the 4th quarter valued at approximately $141,000. 47.81% of the stock is owned by institutional investors.

SuperCom Trading Up 0.2%

Shares of SPCB stock traded up $0.02 on Monday, hitting $10.73. 57,256 shares of the company's stock traded hands, compared to its average volume of 78,817. The stock has a market capitalization of $59.55 million, a price-to-earnings ratio of 214.62 and a beta of 1.16. The company's fifty day simple moving average is $11.03 and its 200 day simple moving average is $9.56. SuperCom has a one year low of $7.07 and a one year high of $13.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.49 and a current ratio of 7.96.

SuperCom (NASDAQ:SPCB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.47. SuperCom had a return on equity of 21.03% and a net margin of 2.98%.The business had revenue of $7.48 million for the quarter, compared to analyst estimates of $6.34 million.

Wall Street Analyst Weigh In

SPCB has been the topic of several research analyst reports. Weiss Ratings upgraded SuperCom from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, June 1st. Wall Street Zen upgraded shares of SuperCom from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

About SuperCom

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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