SuperCom (NASDAQ:SPCB) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of SuperCom (NASDAQ:SPCB) in a research report released on Thursday, reports. The brokerage currently has a $2.50 price objective on the industrial products company’s stock.

“We have heard the chatter—they say we’re crazy. Yesterday’s SuperCom June quarter earnings report marked the second consecutive year-over-year improvement in quarterly EBITDA in $1.9M generated on $5.7M in sales versus in sales. Sure, we see what appears to be the fourth quarter in a row of double- digit annual sales decline, but that trend merely serves to call attention to the underlying shifts, while the sequential sales stabilization—noted above—signals potential equilibrium. The farcical controversy lies in SuperCom’s 2018 audit, the white elephant standing next to each of the past two quarterly reports responsible for only a squint-eye view of SuperCom’s true financial position.”,” the firm’s analyst wrote.

A number of other research analysts have also commented on the company. ValuEngine lowered SuperCom from a buy rating to a hold rating in a report on Wednesday, May 1st. Zacks Investment Research raised SuperCom from a sell rating to a hold rating in a report on Saturday, August 10th.

Shares of NASDAQ SPCB traded up $0.02 during mid-day trading on Thursday, reaching $1.03. 100 shares of the company traded hands, compared to its average volume of 33,238. The stock has a market cap of $15.41 million, a PE ratio of 11.44 and a beta of 0.81. The company’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.34. SuperCom has a fifty-two week low of $0.95 and a fifty-two week high of $2.10.

SuperCom (NASDAQ:SPCB) last issued its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $5.67 million for the quarter, compared to analyst estimates of $6.00 million. As a group, sell-side analysts predict that SuperCom will post 0.15 earnings per share for the current year.

An institutional investor recently raised its position in SuperCom stock. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of SuperCom Ltd. (NASDAQ:SPCB) by 214.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,000 shares of the industrial products company’s stock after purchasing an additional 30,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned about 0.29% of SuperCom worth $48,000 at the end of the most recent quarter. 18.46% of the stock is currently owned by institutional investors.

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 offers MAGNA, a common platform for ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management.

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