SuperCom (NASDAQ:SPCB) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of SuperCom, Ltd. (NASDAQ:SPCB) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.67 and traded as high as $8.68. SuperCom shares last traded at $8.52, with a volume of 43,206 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of SuperCom in a report on Monday, December 29th. Wall Street Zen upgraded shares of SuperCom from a “hold” rating to a “buy” rating in a research report on Sunday, March 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, SuperCom has an average rating of “Sell”.

SuperCom Stock Performance

The company has a current ratio of 8.29, a quick ratio of 7.75 and a debt-to-equity ratio of 0.52. The company has a market cap of $23.35 million, a price-to-earnings ratio of 10.09 and a beta of 0.95. The stock has a 50 day moving average price of $8.63 and a two-hundred day moving average price of $9.59.

Hedge Funds Weigh In On SuperCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPCB. Stifel Financial Corp increased its stake in shares of SuperCom by 310.5% in the 4th quarter. Stifel Financial Corp now owns 117,000 shares of the industrial products company’s stock valued at $1,059,000 after acquiring an additional 88,500 shares during the last quarter. Apis Capital Advisors LLC boosted its stake in SuperCom by 213.3% during the 3rd quarter. Apis Capital Advisors LLC now owns 94,000 shares of the industrial products company’s stock worth $1,132,000 after acquiring an additional 64,000 shares during the last quarter. Corsair Capital Management L.P. bought a new position in SuperCom during the 2nd quarter worth approximately $311,000. Citadel Advisors LLC acquired a new position in SuperCom during the third quarter valued at approximately $254,000. Finally, XTX Topco Ltd acquired a new position in SuperCom during the fourth quarter valued at approximately $141,000. 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.