SuperCom Ltd. (NASDAQ:SPCB – Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 94,000 shares, a growth of 43.3% from the March 15th total of 65,600 shares. Based on an average trading volume of 408,700 shares, the short-interest ratio is presently 0.2 days. Approximately 3.1% of the shares of the company are short sold.
Hedge Funds Weigh In On SuperCom
An institutional investor recently bought a new position in SuperCom stock. Renaissance Technologies LLC purchased a new stake in SuperCom Ltd. (NASDAQ:SPCB – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,300 shares of the industrial products company’s stock, valued at approximately $50,000. Renaissance Technologies LLC owned 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.
Wall Street Analysts Forecast Growth
Separately, Maxim Group upped their price target on SuperCom from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st.
SuperCom Stock Performance
Shares of SPCB traded up $0.39 during trading hours on Friday, reaching $6.40. 121,040 shares of the company traded hands, compared to its average volume of 463,833. The company has a debt-to-equity ratio of 2.11, a quick ratio of 4.66 and a current ratio of 5.10. The stock’s fifty day moving average is $7.72 and its 200 day moving average is $6.42. SuperCom has a 1-year low of $2.55 and a 1-year high of $18.95. The stock has a market cap of $18.75 million, a P/E ratio of -29.09 and a beta of 1.00.
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.
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