Short Interest in Support.com, Inc. (NASDAQ:SPRT) Declines By 19.3%

Support.com, Inc. (NASDAQ:SPRT) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 26,800 shares, a decrease of 19.3% from the July 31st total of 33,200 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 108,500 shares, the short-interest ratio is presently 0.2 days.

SPRT stock remained flat at $$1.66 during trading on Friday. The company had a trading volume of 1,771 shares, compared to its average volume of 84,496. The business’s fifty day simple moving average is $1.61 and its 200 day simple moving average is $1.92. Support.com has a fifty-two week low of $1.48 and a fifty-two week high of $3.03. The firm has a market capitalization of $31.11 million, a price-to-earnings ratio of 8.63 and a beta of 0.12.

Support.com (NASDAQ:SPRT) last announced its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.03 earnings per share for the quarter. Support.com had a positive return on equity of 7.30% and a negative net margin of 9.43%. The business had revenue of $16.70 million during the quarter.



A number of hedge funds and other institutional investors have recently made changes to their positions in SPRT. Vanguard Group Inc. raised its position in shares of Support.com by 31.8% in the second 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 in the last quarter. Perritt Capital Management Inc. bought a new position in Support.com in the second quarter valued at approximately $162,000. JBF Capital Inc. grew its stake in Support.com by 24.5% in the second quarter. JBF Capital Inc. now owns 327,757 shares of the technology company’s stock valued at $531,000 after purchasing an additional 64,501 shares in the last quarter. Acadian Asset Management LLC bought a new position in Support.com in the second quarter valued at approximately $33,000. Finally, Kennedy Capital Management Inc. grew its stake in Support.com by 1.1% in the first quarter. Kennedy Capital Management Inc. now owns 884,325 shares of the technology company’s stock valued at $1,999,000 after purchasing an additional 9,411 shares in the last quarter. 33.33% of the stock is owned by institutional investors and hedge funds.

Separately, ValuEngine upgraded Support.com from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd.

About Support.com

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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