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

SuperCom Ltd. (NASDAQ:SPCB) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 69,900 shares, a drop of 31.1% from the August 31st total of 101,500 shares. Currently, 4.5% of the company’s shares are sold short. 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 started coverage on shares of SuperCom in a report on Tuesday, August 27th. They issued a “hold” rating on the stock.

SuperCom Stock Up 1.9 %

Shares of SPCB opened at $3.82 on Friday. The firm has a market cap of $2.52 million, a PE ratio of -15.28 and a beta of 0.06. The company’s fifty day moving average is $1.69 and its two-hundred day moving average is $0.59. SuperCom has a fifty-two week low of $2.55 and a fifty-two week high of $22.60. The company has a quick ratio of 4.66, a current ratio of 5.10 and a debt-to-equity ratio of 2.11.

SuperCom (NASDAQ:SPCB) last issued its 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.

Hedge Funds Weigh In On SuperCom

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

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.