SuperCom (NASDAQ:SPCB) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of SuperCom (NASDAQ:SPCB) from a sell rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded SuperCom from a sell rating to a hold rating in a research note on Saturday, August 10th. HC Wainwright restated a buy rating and issued a $2.50 target price on shares of SuperCom in a research note on Thursday, August 15th.

SPCB traded down $0.02 during midday trading on Wednesday, reaching $0.75. 34,948 shares of the company were exchanged, compared to its average volume of 36,267. The company’s fifty day moving average price is $0.92 and its 200 day moving average price is $1.16. The company has a market cap of $11.27 million, a price-to-earnings ratio of 8.75 and a beta of 0.73. SuperCom has a one year low of $0.70 and a one year high of $1.78.

SuperCom (NASDAQ:SPCB) last announced its earnings results on Wednesday, August 14th. The industrial products company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $5.67 million during the quarter, compared to analysts’ expectations of $6.00 million. On average, sell-side analysts forecast that SuperCom will post 0.15 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP boosted its stake in shares of SuperCom by 143.8% in the 2nd quarter. Susquehanna International Group LLP now owns 28,746 shares of the industrial products company’s stock worth $31,000 after buying an additional 16,956 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in SuperCom by 214.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,000 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in SuperCom by 30.3% in the second quarter. Jane Street Group LLC now owns 45,931 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 10,677 shares during the last quarter. Hedge funds and other institutional investors own 18.21% of the company’s stock.

About SuperCom

SuperCom Ltd. provides digital identity, Internet of Things and connectivity, and cyber security products and solutions to governments, and private and public organizations worldwide. The company offers MAGNA, a common platform for ID registries, e-passports, biometric visas, automated fingerprint identification systems, digitized driver's licenses, and electronic voter registration and election management.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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