Short Interest in SURO Capital Corp. (NASDAQ:SSSS) Drops By 51.3%

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. Based on an average trading volume of 250,600 shares, the short-interest ratio is presently 0.5 days. Approximately0.6% of the company's shares are short sold. Approximately0.6% of the company's shares are short sold. Based on an average trading volume of 250,600 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

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

Insider Activity at SURO Capital

In other SURO Capital news, CEO Mark D. Klein bought 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $8.45 per share, with a total value of $84,500.00. Following the purchase, the chief executive officer owned 1,530,590 shares in the company, valued at approximately $12,933,485.50. The trade was a 0.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.69% of the company's stock.

Institutional Trading of SURO Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in SURO Capital by 222.2% in the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company's stock worth $27,000 after purchasing 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 valued at about $31,000. Millennium Management LLC acquired a new stake in shares of SURO Capital during the 4th quarter valued at about $65,000. Jane Street Group LLC acquired a new stake in shares of SURO Capital during the 4th quarter valued at about $67,000. Finally, Jump Financial LLC acquired a new stake in shares of SURO Capital during the 1st quarter valued at about $59,000. 12.95% of the stock is currently owned by institutional investors and hedge funds.

SURO Capital Price Performance

SSSS stock traded down $0.0350 on Friday, hitting $8.7350. 207,656 shares of the company's stock traded hands, compared to its average volume of 242,861. The stock has a market cap of $208.68 million, a price-to-earnings ratio of -4.62 and a beta of 1.80. The company has a current ratio of 22.50, a quick ratio of 22.50 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $8.30 and a 200-day moving average of $6.56. SURO Capital has a 1-year low of $3.75 and a 1-year 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 net margin of 2,015.55% and a negative return on equity of 6.10%. The company had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.50 million.

SURO Capital Cuts Dividend

The company also recently announced a -- dividend, which was paid on Thursday, July 31st. Investors 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 presently -52.91%.

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.