Short Interest in SuperCom Ltd. (NASDAQ:SPCB) Declines By 31.1%

SuperCom Ltd. (NASDAQ:SPCB) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 69,900 shares, a decrease of 31.1% from the August 31st total of 101,500 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average daily volume of 221,600 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of SuperCom in a research report on Tuesday, August 27th. They issued a “hold” rating on the stock.

Institutional Trading of SuperCom

A hedge fund recently raised its stake in SuperCom stock. Armistice Capital LLC increased its position in shares of SuperCom Ltd. (NASDAQ:SPCB) by 263.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,400,000 shares of the industrial products company’s stock after acquiring an additional 1,739,000 shares during the quarter. Armistice Capital LLC owned approximately 39.93% of SuperCom worth $927,000 as of its most recent filing with the SEC. 47.81% of the stock is owned by hedge funds and other institutional investors.

SuperCom Stock Up 1.9 %

SPCB stock opened at $3.82 on Friday. The company’s 50 day simple moving average is $1.69 and its 200-day simple moving average is $0.59. The firm has a market capitalization of $2.52 million, a PE ratio of -15.28 and a beta of 0.06. SuperCom has a 12 month low of $2.55 and a 12 month high of $22.60. The company has a debt-to-equity ratio of 2.11, a current ratio of 5.10 and a quick ratio of 4.66.

SuperCom (NASDAQ:SPCB) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $0.09 EPS for the quarter. SuperCom had a net margin of 5.70% and a return on equity of 101.73%. The business had revenue of $7.55 million for the quarter.

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.