Short Interest in SuperCom, Ltd. (NASDAQ:SPCB) Grows By 43.7%

SuperCom, Ltd. (NASDAQ:SPCB) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 121,074 shares, a growth of 43.7% from the February 26th total of 84,245 shares. Approximately 5.1% of the shares of the company are sold short. Based on an average daily volume of 51,139 shares, the short-interest ratio is currently 2.4 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of SuperCom in a report on Monday, December 29th. Wall Street Zen upgraded SuperCom from a “hold” rating to a “buy” rating in a research note on Sunday, March 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, SuperCom has an average rating of “Sell”.

SuperCom Stock Down 4.2%

SPCB stock opened at $7.72 on Friday. The business’s 50-day moving average price is $8.55 and its 200-day moving average price is $9.51. The stock has a market cap of $22.62 million, a P/E ratio of 9.77 and a beta of 0.95. The company has a quick ratio of 7.75, a current ratio of 8.29 and a debt-to-equity ratio of 0.52. SuperCom has a twelve month low of $5.06 and a twelve month high of $13.57.

Hedge Funds Weigh In On SuperCom

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of SuperCom in the second quarter worth $31,000. Apis Capital Advisors LLC lifted its stake in shares of SuperCom by 5.3% during the 4th quarter. Apis Capital Advisors LLC now owns 99,000 shares of the industrial products company’s stock valued at $896,000 after buying an additional 5,000 shares in the last quarter. Corsair Capital Management L.P. lifted its stake in shares of SuperCom by 7.8% during the 4th quarter. Corsair Capital Management L.P. now owns 118,571 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 8,571 shares in the last quarter. LPL Financial LLC bought a new position in SuperCom in the 4th quarter worth $92,000. Finally, XTX Topco Ltd purchased a new stake in SuperCom in the 4th quarter worth $141,000. 47.81% of the stock is currently owned by institutional investors.

About SuperCom

SuperCom Ltd. (NASDAQ: SPCB) is a technology firm specializing in electronic monitoring, digital identity and secure IoT solutions. The company develops and delivers hardware and software platforms designed to monitor individuals in correctional and pre-trial settings, as well as to provide secure digital identity credentials for governments and commercial clients. SuperCom’s core offerings include GPS and radio frequency (RF) tracking devices, biometric readers, secure communications modules and cloud-based monitoring portals.

In addition to correctional monitoring, SuperCom has expanded into the digital identity and eHealth sectors.