SuperCom Ltd. (NASDAQ:SPCB – Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 101,500 shares, a growth of 134.4% from the August 15th total of 43,300 shares. Based on an average trading volume of 214,500 shares, the days-to-cover ratio is presently 0.5 days. Approximately 6.5% of the company’s shares are sold short.
Analyst Ratings Changes
Separately, StockNews.com started coverage on SuperCom in a report on Tuesday, August 27th. They set a “hold” rating on the stock.
Check Out Our Latest Analysis on SPCB
SuperCom Stock Up 7.7 %
SuperCom (NASDAQ:SPCB – Get Free Report) last issued its earnings results on Thursday, August 15th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter. SuperCom had a net margin of 5.70% and a return on equity of 101.73%. The company had revenue of $7.55 million during the quarter.
Institutional Investors Weigh In On SuperCom
A hedge fund recently raised its stake in SuperCom stock. Armistice Capital LLC boosted its holdings in shares of SuperCom Ltd. (NASDAQ:SPCB – Free Report) by 263.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,400,000 shares of the industrial products company’s stock after buying an additional 1,739,000 shares during the quarter. Armistice Capital LLC owned about 39.93% of SuperCom worth $927,000 at the end of the most recent quarter. 47.81% of the stock is currently owned by institutional investors.
About SuperCom
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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