SuperCom (NASDAQ:SPCB) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of SuperCom, Ltd. (NASDAQ:SPCB) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.39 and traded as high as $11.06. SuperCom shares last traded at $10.87, with a volume of 55,617 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen raised SuperCom from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded SuperCom from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

SuperCom Stock Up 2.3%

The company has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $9.29. The company has a quick ratio of 7.49, a current ratio of 7.96 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $58.84 million, a P/E ratio of 219.20 and a beta of 1.17.

SuperCom (NASDAQ:SPCB) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.47. The business had revenue of $7.48 million during the quarter, compared to the consensus estimate of $6.34 million. SuperCom had a return on equity of 21.03% and a net margin of 2.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apis Capital Advisors LLC raised its position in SuperCom by 213.3% during the third quarter. Apis Capital Advisors LLC now owns 94,000 shares of the industrial products company’s stock valued at $1,132,000 after acquiring an additional 64,000 shares in the last quarter. Corsair Capital Management L.P. raised its holdings in shares of SuperCom by 7.8% in the 4th quarter. Corsair Capital Management L.P. now owns 118,571 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 8,571 shares during the period. Stifel Financial Corp boosted its position in SuperCom by 310.5% in the 4th quarter. Stifel Financial Corp now owns 117,000 shares of the industrial products company’s stock valued at $1,059,000 after buying an additional 88,500 shares during the period. Citadel Advisors LLC purchased a new stake in shares of SuperCom in the 3rd quarter valued at approximately $254,000. Finally, XTX Topco Ltd purchased a new position in SuperCom in the fourth quarter valued at approximately $141,000. 47.81% of the stock is currently owned by institutional investors.

About SuperCom

SuperCom Ltd. (NASDAQ: SPCB) is a technology firm specializing in electronic monitoring, digital identity and secure IoT solutions. The company develops and delivers hardware and software platforms designed to monitor individuals in correctional and pre-trial settings, as well as to provide secure digital identity credentials for governments and commercial clients. SuperCom’s core offerings include GPS and radio frequency (RF) tracking devices, biometric readers, secure communications modules and cloud-based monitoring portals.

In addition to correctional monitoring, SuperCom has expanded into the digital identity and eHealth sectors.