SURO Capital Corp. (NASDAQ:SSSS) Sees Significant Growth in Short Interest

SURO Capital Corp. (NASDAQ:SSSS) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 246,333 shares, a growth of 23.1% from the February 26th total of 200,129 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 372,196 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

SSSS has been the subject of a number of research analyst reports. BTIG Research lifted their price objective on shares of SURO Capital from $10.50 to $12.50 and gave the company a “buy” rating in a report on Wednesday, March 11th. Barrington Research boosted their price target on SURO Capital from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Weiss Ratings downgraded SURO Capital from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, March 18th. Wall Street Zen cut SURO Capital from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Capital One Financial set a $12.00 price target on SURO Capital in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $13.13.

SURO Capital Stock Down 1.1%

NASDAQ:SSSS traded down $0.11 during trading hours on Monday, reaching $9.94. The company’s stock had a trading volume of 188,231 shares, compared to its average volume of 217,293. The stock has a 50 day moving average price of $9.55 and a two-hundred day moving average price of $9.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 54.37 and a current ratio of 54.37. The company has a market capitalization of $252.36 million, a P/E ratio of 5.62 and a beta of 1.43. SURO Capital has a 12 month low of $4.21 and a 12 month high of $10.62.

SURO Capital (NASDAQ:SSSS) last announced its earnings results on Monday, March 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The company had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.35 million. SURO Capital had a net margin of 2,894.90% and a negative return on equity of 8.12%.

Institutional Trading of SURO Capital

Several hedge funds have recently modified their holdings of SSSS. Invesco Ltd. grew its position in shares of SURO Capital by 560.4% in the 4th quarter. Invesco Ltd. now owns 99,449 shares of the company’s stock worth $939,000 after buying an additional 84,389 shares during the last quarter. Trexquant Investment LP grew its holdings in SURO Capital by 359.3% in the fourth quarter. Trexquant Investment LP now owns 47,746 shares of the company’s stock worth $451,000 after purchasing an additional 37,351 shares during the last quarter. Royal Bank of Canada increased its position in shares of SURO Capital by 171.2% during the fourth quarter. Royal Bank of Canada now owns 15,293 shares of the company’s stock worth $144,000 after purchasing an additional 9,655 shares in the last quarter. Mangrove Partners IM LLC purchased a new stake in shares of SURO Capital during the 4th quarter valued at $497,000. Finally, Heron Bay Capital Management acquired a new stake in shares of SURO Capital in the 4th quarter worth $137,000. 12.95% of the stock is owned by hedge funds and other institutional investors.

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.