Support.com, Inc. (NASDAQ:SPRT) Short Interest Down 25.2% in January

Support.com, Inc. (NASDAQ:SPRT) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 201,000 shares, a drop of 25.2% from the January 15th total of 268,800 shares. Based on an average daily volume of 204,300 shares, the short-interest ratio is presently 1.0 days. Currently, 1.2% of the shares of the company are short sold.

Separately, TheStreet raised Support.com from a “d+” rating to a “c+” rating in a report on Friday, November 29th.

Shares of SPRT traded down $0.02 during midday trading on Friday, reaching $1.21. 28 shares of the stock were exchanged, compared to its average volume of 102,203. Support.com has a twelve month low of $1.05 and a twelve month high of $2.78. The company has a market cap of $23.23 million, a P/E ratio of 5.76 and a beta of 0.17. The stock’s 50 day simple moving average is $1.25 and its 200 day simple moving average is $1.60.

In other news, CEO Richard A. Bloom bought 605,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $2.05 per share, for a total transaction of $1,240,250.00. Following the completion of the purchase, the chief executive officer now owns 780,442 shares in the company, valued at $1,599,906.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.35% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in shares of Support.com by 400.0% in the fourth quarter. Advisory Services Network LLC now owns 50,000 shares of the technology company’s stock valued at $55,000 after acquiring an additional 40,000 shares in the last quarter. George Kaiser Family Foundation bought a new position in Support.com during the third quarter worth about $359,000. Finally, Vanguard Group Inc. increased its position in Support.com by 31.8% during the second quarter. Vanguard Group Inc. now owns 996,045 shares of the technology company’s stock worth $1,614,000 after acquiring an additional 240,293 shares during the period. 33.21% of the stock is owned by institutional investors.

Support.com Company Profile

Support.com, Inc provides customer support services, end user software, and cloud-based software primarily in the United States. The company offers turnkey and outsourced support services for service providers, retailers, original equipment manufacturers (OEMs), warranty providers, Internet of Things solution providers, and technology companies.

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