SURO Capital Corp. (NASDAQ:SSSS) Sees Large Decrease in Short Interest

SURO Capital Corp. (NASDAQ:SSSS) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 118,587 shares, a decrease of 43.6% from the December 15th total of 210,381 shares. Based on an average daily volume of 137,240 shares, the short-interest ratio is presently 0.9 days. Approximately 0.5% of the company’s shares are short sold. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 137,240 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On SURO Capital

Several institutional investors and hedge funds have recently made changes to their positions in SSSS. Bank of America Corp DE increased its holdings in shares of SURO Capital by 222.2% in the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock worth $27,000 after acquiring an additional 2,253 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of SURO Capital by 2,587.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 3,655 shares of the company’s stock valued at $33,000 after purchasing an additional 3,519 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SURO Capital during the second quarter valued at approximately $31,000. Byrne Asset Management LLC bought a new stake in shares of SURO Capital during the third quarter valued at approximately $83,000. Finally, Coastal Bridge Advisors LLC acquired a new position in SURO Capital during the 3rd quarter worth $101,000. 12.95% of the stock is owned by institutional investors and hedge funds.

SURO Capital Price Performance

SSSS stock opened at $9.64 on Friday. The firm has a market cap of $242.16 million, a P/E ratio of -22.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 18.48 and a current ratio of 18.48. SURO Capital has a 1 year low of $4.21 and a 1 year high of $10.34. The stock has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $9.08.

SURO Capital (NASDAQ:SSSS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08. The company had revenue of $0.46 million during the quarter, compared to the consensus estimate of $0.17 million. SURO Capital had a net margin of 2,930.42% and a negative return on equity of 5.64%.

SURO Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. SURO Capital’s payout ratio is presently -238.10%.

Analyst Ratings Changes

A number of analysts have recently commented on SSSS shares. Capital One Financial set a $12.00 price objective on SURO Capital in a report on Monday, January 5th. Barrington Research boosted their price target on SURO Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Lucid Cap Mkts upgraded SURO Capital to a “strong-buy” rating in a report on Monday, January 5th. BTIG Research lifted their price objective on SURO Capital from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $11.13.

About SURO Capital

SURO Capital Corp (NASDAQ: SSSS) is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm’s primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.