SURO Capital Corp. (NASDAQ:SSSS) Short Interest Up 22.0% in April

Key Points

• Short interest rose 22.0% in April to 319,874 shares (about 1.4% of shares outstanding), leaving a short-interest ratio of 0.5 days based on average daily volume.
• CEO Mark D. Klein bought 2,500 shares at about $13.08 on April 21, bringing his holdings to 1,673,521 shares and insiders' ownership to 6.69% of the company.
• SURO reported Q1 EPS of ($0.23), missing the consensus of ($0.20) while reporting revenue of $0.56 million versus $0.35 million expected.

SURO Capital Corp. (NASDAQ:SSSS - Get Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 319,874 shares, an increase of 22.0% from the March 31st total of 262,287 shares. Based on an average trading volume of 606,072 shares, the short-interest ratio is presently 0.5 days. Approximately 1.4% of the company's shares are short sold.

SURO Capital Trading Down 0.9%

Shares of SSSS opened at $13.15 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 54.37 and a quick ratio of 54.37. SURO Capital has a 12 month low of $4.50 and a 12 month high of $13.65. The stock's 50-day moving average is $10.90 and its two-hundred day moving average is $9.94. The stock has a market cap of $333.85 million, a PE ratio of 7.43 and a beta of 1.32.

SURO Capital (NASDAQ:SSSS - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.03). SURO Capital had a net margin of 2,894.90% and a negative return on equity of 8.12%. The business had revenue of $0.56 million during the quarter, compared to analysts' expectations of $0.35 million.

Analysts Set New Price Targets

SSSS has been the topic of a number of recent research reports. Wall Street Zen cut SURO Capital from a "hold" rating to a "sell" rating in a research note on Saturday, March 14th. Lucid Cap Mkts upgraded SURO Capital to a "strong-buy" rating in a research note on Monday, January 5th. Capital One Financial set a $12.00 price objective on SURO Capital in a research note on Monday, January 5th. Barrington Research boosted their price objective on SURO Capital from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings cut SURO Capital from a "buy (b)" rating to a "hold (c)" rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, SURO Capital has an average rating of "Buy" and an average price target of $14.75.

Insider Transactions at SURO Capital

In other news, CEO Mark D. Klein purchased 2,500 shares of the stock in a transaction on Tuesday, April 21st. The stock was purchased at an average price of $13.08 per share, with a total value of $32,700.00. Following the completion of the transaction, the chief executive officer owned 1,673,521 shares in the company, valued at approximately $21,889,654.68. The trade was a 0.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.69% of the company's stock.

Institutional Investors Weigh In On SURO Capital

Several hedge funds and other institutional investors have recently bought and sold shares of SSSS. Two Sigma Investments LP increased its holdings in SURO Capital by 189.9% during the 3rd quarter. Two Sigma Investments LP now owns 211,905 shares of the company's stock worth $1,907,000 after purchasing an additional 138,818 shares during the last quarter. Jane Street Group LLC increased its holdings in SURO Capital by 102.1% during the 4th quarter. Jane Street Group LLC now owns 251,035 shares of the company's stock worth $2,370,000 after purchasing an additional 126,796 shares during the last quarter. LPL Financial LLC increased its holdings in SURO Capital by 98.9% during the 4th quarter. LPL Financial LLC now owns 174,810 shares of the company's stock worth $1,650,000 after purchasing an additional 86,926 shares during the last quarter. Invesco Ltd. increased its holdings in SURO Capital by 560.4% during the 4th quarter. Invesco Ltd. now owns 99,449 shares of the company's stock worth $939,000 after purchasing an additional 84,389 shares during the last quarter. Finally, Green Alpha Advisors LLC purchased a new stake in SURO Capital during the 4th quarter worth approximately $504,000. 12.95% of the stock is currently owned by hedge funds and other institutional investors.

About SURO Capital

SURO Capital Corp NASDAQ: SSSS is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm's primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.

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