SuperCom Ltd. (NASDAQ:SPCB) Short Interest Up 1,048.8% in April

SuperCom Ltd. (NASDAQ:SPCB) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,220,000 shares, a growth of 1,048.8% from the March 31st total of 106,200 shares. Currently, 18.8% of the company’s shares are short sold. Based on an average daily volume of 8,360,000 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of SuperCom in a report on Sunday, April 21st. They issued a “sell” rating on the stock.

SuperCom Trading Down 4.8 %

SuperCom stock traded down $0.01 during trading hours on Friday, reaching $0.24. The stock had a trading volume of 6,805,620 shares, compared to its average volume of 24,090,544. The stock has a market cap of $1.44 million, a PE ratio of -0.47 and a beta of 0.27. The company has a fifty day simple moving average of $0.20 and a 200-day simple moving average of $0.30. The company has a debt-to-equity ratio of 5.46, a current ratio of 8.31 and a quick ratio of 7.53. SuperCom has a 52 week low of $0.15 and a 52 week high of $1.28.

Institutional Trading of SuperCom

A hedge fund recently raised its stake in SuperCom stock. Armistice Capital LLC raised its holdings in shares of SuperCom Ltd. (NASDAQ:SPCB) by 263.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,400,000 shares of the industrial products company’s stock after purchasing an additional 1,739,000 shares during the period. Armistice Capital LLC owned 39.93% of SuperCom worth $927,000 at the end of the most recent reporting period. Institutional investors own 47.81% of the company’s stock.

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.