Support.com, Inc. (NASDAQ:SPRT) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 33,200 shares, a decline of 11.5% from the June 30th total of 37,500 shares. Based on an average trading volume of 113,700 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the company’s shares are short sold.
Separately, ValuEngine raised shares of Support.com from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Support.com during the 2nd quarter worth approximately $33,000. Aspiriant LLC purchased a new stake in Support.com during the 1st quarter worth approximately $47,000. Perritt Capital Management Inc. purchased a new stake in Support.com during the 2nd quarter worth approximately $162,000. JBF Capital Inc. increased its stake in Support.com by 24.5% during the 2nd quarter. JBF Capital Inc. now owns 327,757 shares of the technology company’s stock worth $531,000 after buying an additional 64,501 shares during the period. Finally, Vanguard Group Inc. increased its stake in Support.com by 31.8% during the 2nd quarter. Vanguard Group Inc. now owns 996,045 shares of the technology company’s stock worth $1,614,000 after buying an additional 240,293 shares during the period. 41.48% of the stock is currently owned by hedge funds and other institutional investors.
Support.com (NASDAQ:SPRT) last released its quarterly earnings results on Monday, May 13th. The technology company reported $0.08 earnings per share (EPS) for the quarter. Support.com had a negative net margin of 9.69% and a positive return on equity of 6.79%. The business had revenue of $18.06 million for the quarter.
Support.com, Inc provides customer support services, end user software, and cloud-based software primarily in the United States. The company offers turnkey and outsourced support services for service providers, retailers, original equipment manufacturers (OEMs), warranty providers, Internet of Things solution providers, and technology companies.
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