Short Interest in SuperCom Ltd. (NASDAQ:SPCB) Increases By 1,048.8%

SuperCom Ltd. (NASDAQ:SPCB) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,220,000 shares, a growth of 1,048.8% from the March 31st total of 106,200 shares. Based on an average daily volume of 8,360,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 18.8% of the company’s stock are short sold.

SuperCom Stock Down 4.8 %

Shares of NASDAQ SPCB traded down $0.01 during midday trading on Friday, hitting $0.24. 6,805,620 shares of the stock traded hands, compared to its average volume of 24,090,544. SuperCom has a one year low of $0.15 and a one year high of $1.28. The business has a 50 day moving average price of $0.20 and a two-hundred day moving average price of $0.30. The company has a debt-to-equity ratio of 5.46, a quick ratio of 7.53 and a current ratio of 8.31. The company has a market cap of $1.44 million, a PE ratio of -0.47 and a beta of 0.27.

Institutional Trading of SuperCom

A hedge fund recently raised its stake in SuperCom stock. Armistice Capital LLC raised its stake in shares of SuperCom Ltd. (NASDAQ:SPCB) by 263.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,400,000 shares of the industrial products company’s stock after purchasing an additional 1,739,000 shares during the period. Armistice Capital LLC owned approximately 39.93% of SuperCom worth $927,000 as of its most recent SEC filing. 47.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on SuperCom in a research note on Sunday, April 21st. They issued a “sell” rating for the company.

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 operates in three segments: e-Gov, IoT and Connectivity, and Cyber Security. It offers MAGNA, a platform for national ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management.