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

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on SSSS. Weiss Ratings restated a “buy (b-)” rating on shares of SURO Capital in a research report on Monday, December 29th. Barrington Research boosted their price objective on SURO Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. BTIG Research raised their target price on shares of SURO Capital from $10.00 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Capital One Financial set a $12.00 price target on shares of SURO Capital in a report on Monday, January 5th. Finally, Wall Street Zen cut shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat.com, SURO Capital currently has an average rating of “Buy” and a consensus target price of $11.13.

Hedge Funds Weigh In On SURO Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new stake in SURO Capital in the 1st quarter worth approximately $62,000. Jane Street Group LLC increased its position in SURO Capital by 58.5% in the first quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock worth $90,000 after purchasing an additional 6,701 shares during the last quarter. Acadian Asset Management LLC increased its position in SURO Capital by 46.1% in the first quarter. Acadian Asset Management LLC now owns 142,937 shares of the company’s stock worth $708,000 after purchasing an additional 45,085 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in SURO Capital by 18.4% during the second quarter. Harbor Capital Advisors Inc. now owns 206,652 shares of the company’s stock valued at $1,697,000 after purchasing an additional 32,119 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new position in SURO Capital during the second quarter valued at $151,000. 12.95% of the stock is owned by institutional investors.

SURO Capital Price Performance

SSSS traded down $0.06 during trading on Friday, reaching $9.64. 134,800 shares of the company traded hands, compared to its average volume of 131,236. The company 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 12-month low of $4.21 and a 12-month high of $10.34. The firm has a fifty day simple moving average of $9.43 and a 200 day simple moving average of $9.07.

SURO Capital (NASDAQ:SSSS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. The firm had revenue of $0.46 million during the quarter, compared to analyst estimates 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 Announces Dividend

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

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.