SuperCom (NASDAQ:SPCB) Shares Cross Above Fifty Day Moving Average – Here’s Why

SuperCom, Ltd. (NASDAQ:SPCB) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.95 and traded as high as $12.87. SuperCom shares last traded at $11.94, with a volume of 237,435 shares changing hands.

Analyst Upgrades and Downgrades

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

SuperCom Price Performance

The company has a 50-day moving average of $11.01 and a 200-day moving average of $9.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.49 and a current ratio of 7.96. The firm has a market capitalization of $65.23 million, a price-to-earnings ratio of 243.00 and a beta of 1.16.

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

Hedge Funds Weigh In On SuperCom

Large investors have recently modified their holdings of the business. Stifel Financial Corp increased its position in shares of SuperCom by 310.5% in the fourth quarter. Stifel Financial Corp now owns 117,000 shares of the industrial products company’s stock valued at $1,059,000 after acquiring an additional 88,500 shares during the last quarter. Apis Capital Advisors LLC boosted 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 purchasing an additional 64,000 shares during the last quarter. Citadel Advisors LLC bought a new position in SuperCom in the third quarter valued at approximately $254,000. Corsair Capital Management L.P. grew its stake in SuperCom by 14.7% in the first quarter. Corsair Capital Management L.P. now owns 135,971 shares of the industrial products company’s stock valued at $1,065,000 after purchasing an additional 17,400 shares in the last quarter. Finally, XTX Topco Ltd bought 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 and hedge funds.

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.