SuperCom, Ltd. (NASDAQ:SPCB – Get Free Report) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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.
Wall Street Analysts Forecast Growth
SPCB has been the subject of a number of analyst reports. Wall Street Zen upgraded SuperCom from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded SuperCom from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.
Read Our Latest Report on SPCB
SuperCom Stock Performance
SuperCom (NASDAQ:SPCB – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.47. SuperCom had a net margin of 2.98% and a return on equity of 21.03%. The business had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $6.34 million.
Hedge Funds Weigh In On SuperCom
A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of SuperCom in the second quarter valued at approximately $31,000. LPL Financial LLC bought a new stake in SuperCom during the fourth quarter worth $92,000. XTX Topco Ltd bought a new stake in SuperCom during the fourth quarter worth $141,000. Citadel Advisors LLC purchased a new position in SuperCom in the third quarter worth $254,000. Finally, Apis Capital Advisors LLC boosted its position in SuperCom by 5.3% in the fourth quarter. Apis Capital Advisors LLC now owns 99,000 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 47.81% of the company’s stock.
SuperCom Company Profile
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.
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