SuperCom (NASDAQ:SPCB) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

SuperCom Ltd. (NASDAQ:SPCB) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.44 and traded as high as $10.90. SuperCom shares last traded at $10.68, with a volume of 229,208 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Maxim Group raised their price objective on shares of SuperCom from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. StockNews.com lowered SuperCom from a “hold” rating to a “sell” rating in a research note on Friday, December 13th.

SuperCom Trading Down 10.7 %

The firm has a market cap of $31.15 million, a PE ratio of -48.32 and a beta of 0.20. The company has a debt-to-equity ratio of 2.11, a current ratio of 5.10 and a quick ratio of 4.66. The business has a 50-day moving average price of $8.76 and a two-hundred day moving average price of $4.99.

Hedge Funds Weigh In On SuperCom

A hedge fund recently bought a new stake in SuperCom stock. Renaissance Technologies LLC acquired a new position in shares of SuperCom Ltd. (NASDAQ:SPCB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,300 shares of the industrial products company’s stock, valued at approximately $50,000. Renaissance Technologies LLC owned approximately 0.35% of SuperCom at the end of the most recent reporting period. Institutional investors and hedge funds own 47.81% of the company’s stock.

SuperCom Company Profile

SuperCom Ltd. provides digital identity, Internet of Things and connectivity, and cyber security products and solutions to governments, and private and public organizations worldwide. The company operates in three segments: e-Gov, IoT and Connectivity, and Cyber Security. It offers MAGNA, a platform for national ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management.