SURO Capital (NASDAQ:SSSS) Shares Up 2.1% – Should You Buy?

SURO Capital Corp. (NASDAQ:SSSS) shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as $12.94 and last traded at $12.80. Approximately 209,025 shares were traded during mid-day trading, a decline of 20% from the average session volume of 260,384 shares. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SSSS shares. Citigroup reaffirmed an “outperform” rating on shares of SURO Capital in a report on Thursday, April 9th. Weiss Ratings raised shares of SURO Capital from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded SURO Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research raised their price target on SURO Capital from $12.50 to $15.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Finally, Barrington Research lifted their price target on SURO Capital from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, SURO Capital presently has a consensus rating of “Buy” and a consensus price target of $15.00.

SURO Capital Stock Performance

The stock has a market capitalization of $333.70 million, a P/E ratio of 1.83 and a beta of 1.39. The company’s fifty day simple moving average is $13.36 and its 200 day simple moving average is $11.17. The company has a current ratio of 24.38, a quick ratio of 24.38 and a debt-to-equity ratio of 0.19.

Insider Activity

In other SURO Capital news, CEO Mark D. Klein acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was bought at an average price of $13.08 per share, with a total value of $32,700.00. Following the completion of the acquisition, the chief executive officer owned 1,673,521 shares of the company’s stock, valued at $21,889,654.68. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.32% of the company’s stock.

Institutional Investors Weigh In On SURO Capital

A number of institutional investors and hedge funds have recently bought and sold shares of SSSS. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 2,253 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of SURO Capital during the 2nd quarter worth $31,000. Invesco Ltd. purchased a new position in SURO Capital in the first quarter worth $62,000. Hazlett Burt & Watson Inc. grew its position in SURO Capital by 102.6% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 7,405 shares of the company’s stock worth $68,000 after acquiring an additional 3,750 shares in the last quarter. Finally, Jane Street Group LLC grew its position in SURO Capital by 58.5% in the first quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock worth $90,000 after acquiring an additional 6,701 shares in the last quarter. 12.95% of the stock is owned by hedge funds and other institutional investors.

About SURO Capital

SURO Capital Corp (NASDAQ: SSSS) is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm’s primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.