SURO Capital Corp. (NASDAQ:SSSS) Short Interest Update

Key Points

• SURO Capital Corp. experienced a significant decline in short interest, dropping by 51.3% in July, with current short interest at 126,900 shares.
• Several analysts have recently raised their price targets for SURO Capital, with the average target now at $10.00 and multiple firms assigning a buy or outperform rating.
• In recent insider activity, CEO Mark D. Klein purchased 10,000 shares of the company's stock for approximately $84,500, increasing his ownership stake in SURO Capital.

SURO Capital Corp. (NASDAQ:SSSS - Get Free Report) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 126,900 shares, adropof51.3% from the July 15th total of 260,600 shares. Currently,0.6% of the company's stock are short sold. Based on an average daily trading volume, of 250,600 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 250,600 shares, the days-to-cover ratio is presently 0.5 days. Currently,0.6% of the company's stock are short sold.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup restated an "outperform" rating on shares of SURO Capital in a research note on Wednesday, July 16th. JMP Securities upped their price objective on SURO Capital from $8.00 to $10.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded SURO Capital from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. BTIG Research set a $10.00 price objective on SURO Capital and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, Barrington Research upped their price objective on SURO Capital from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $10.00.

SURO Capital Stock Performance

Shares of NASDAQ:SSSS opened at $8.45 on Friday. The firm has a market capitalization of $201.87 million, a PE ratio of -4.47 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 22.50 and a quick ratio of 22.50. The business has a 50-day moving average of $8.20 and a two-hundred day moving average of $6.48. SURO Capital has a 12 month low of $3.71 and a 12 month high of $9.12.

SURO Capital (NASDAQ:SSSS - Get Free Report) last announced its quarterly 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. SURO Capital had a negative return on equity of 6.10% and a net margin of 2,015.55%. The company had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.50 million.

SURO Capital Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. SURO Capital's dividend payout ratio (DPR) is -52.91%.

Insider Activity

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

Institutional Investors Weigh In On SURO Capital

A number of large investors have recently modified their holdings of SSSS. Bank of America Corp DE lifted its holdings in 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of SURO Capital during the 2nd quarter worth approximately $31,000. Jump Financial LLC acquired a new stake in shares of SURO Capital during the 1st quarter worth approximately $59,000. Invesco Ltd. acquired a new stake in SURO Capital in the 1st quarter valued at approximately $62,000. Finally, Millennium Management LLC acquired a new stake in SURO Capital in the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 12.95% of the company's stock.

About SURO Capital

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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