SuperCom Ltd. (NASDAQ:SPCB) Sees Significant Increase in Short Interest

SuperCom Ltd. (NASDAQ:SPCB) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 66,300 shares, a growth of 30.8% from the February 13th total of 50,700 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPCB. StockNews.com cut SuperCom from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Maxim Group upped their price target 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.

SuperCom Stock Performance

Shares of NASDAQ SPCB traded up $0.18 during mid-day trading on Monday, hitting $7.59. The company had a trading volume of 5,624 shares, compared to its average volume of 522,280. The company has a current ratio of 5.10, a quick ratio of 4.66 and a debt-to-equity ratio of 2.11. SuperCom has a 1 year low of $2.55 and a 1 year high of $18.95. The company has a market capitalization of $22.24 million, a price-to-earnings ratio of -34.50 and a beta of 0.19. The stock’s 50-day moving average price is $10.11 and its 200-day moving average price is $5.88.

Hedge Funds Weigh In On SuperCom

An institutional investor recently bought a new position in SuperCom stock. Renaissance Technologies LLC purchased a new position in SuperCom Ltd. (NASDAQ:SPCB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,300 shares of the industrial products company’s stock, valued at approximately $50,000. Renaissance Technologies LLC owned about 0.35% of SuperCom at the end of the most recent reporting period. Hedge funds and other institutional investors 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.