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

SURO Capital Corp. (NASDAQ:SSSS) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 210,381 shares, a decrease of 23.5% from the November 30th total of 274,912 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 139,375 shares, the days-to-cover ratio is currently 1.5 days. Based on an average trading volume of 139,375 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.9% of the shares of the company are sold short.

SURO Capital Price Performance

Shares of NASDAQ:SSSS traded up $0.16 during midday trading on Tuesday, hitting $9.57. The stock had a trading volume of 97,679 shares, compared to its average volume of 228,000. The company’s 50-day moving average price is $9.41 and its 200-day moving average price is $8.91. SURO Capital has a fifty-two week low of $4.21 and a fifty-two week high of $10.34. The company has a quick ratio of 18.48, a current ratio of 18.48 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $240.30 million, a P/E ratio of -22.78 and a beta of 1.39.

SURO Capital (NASDAQ:SSSS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. SURO Capital had a net margin of 2,930.42% and a negative return on equity of 5.64%. The business had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $0.17 million.

SURO Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.00 annualized dividend and a yield of 10.5%. SURO Capital’s dividend payout ratio (DPR) is -238.10%.

Institutional Investors Weigh In On SURO Capital

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in SURO Capital in the first quarter valued at approximately $62,000. Jump Financial LLC bought a new stake in shares of SURO Capital in the 1st quarter valued at $59,000. Trexquant Investment LP bought a new stake in shares of SURO Capital in the 1st quarter valued at $134,000. Granahan Investment Management LLC bought a new position in SURO Capital during the first quarter worth $194,000. Finally, Needham Investment Management LLC lifted its holdings in SURO Capital by 12.2% in the first quarter. Needham Investment Management LLC now owns 378,594 shares of the company’s stock valued at $1,882,000 after buying an additional 41,200 shares during the period. 12.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barrington Research increased their target price on SURO Capital from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen cut SURO Capital from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of SURO Capital in a research report on Monday, December 22nd. Finally, BTIG Research raised their price target on shares of SURO Capital from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, SURO Capital has a consensus rating of “Buy” and an average price target of $10.83.

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.