SuperCom (NASDAQ:SPCB) Stock Rating Reaffirmed by HC Wainwright

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HC Wainwright reissued their buy rating on shares of SuperCom (NASDAQ:SPCB) in a research report released on Thursday morning, AnalystRatings.com reports. The firm currently has a $2.50 target price on the industrial products company’s stock.

“We have heard the chatter—they say we’re crazy. Yesterday’s SuperCom June quarter earnings report marked the second consecutive year-over-year improvement in quarterly EBITDA in $1.9M generated on $5.7M in sales versus in sales. Sure, we see what appears to be the fourth quarter in a row of double- digit annual sales decline, but that trend merely serves to call attention to the underlying shifts, while the sequential sales stabilization—noted above—signals potential equilibrium. The farcical controversy lies in SuperCom’s 2018 audit, the white elephant standing next to each of the past two quarterly reports responsible for only a squint-eye view of SuperCom’s true financial position.”,” the firm’s analyst commented.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of SuperCom from a sell rating to a hold rating in a report on Saturday, August 10th. ValuEngine lowered shares of SuperCom from a buy rating to a hold rating in a report on Wednesday, May 1st.

Shares of NASDAQ SPCB opened at $1.04 on Thursday. The firm’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.34. SuperCom has a 1-year low of $0.95 and a 1-year high of $2.10. The firm has a market capitalization of $15.41 million, a P/E ratio of 11.44 and a beta of 0.81.

SuperCom (NASDAQ:SPCB) last announced its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $5.67 million for the quarter, compared to analyst estimates of $6.00 million. Sell-side analysts forecast that SuperCom will post 0.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC raised its holdings in shares of SuperCom by 30.3% in the 2nd quarter. Jane Street Group LLC now owns 45,931 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 10,677 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of SuperCom by 214.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,000 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Susquehanna International Group LLP raised its holdings 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 acquiring an additional 16,956 shares during the last quarter. Institutional investors own 18.46% 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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