SuperCom (NASDAQ:SPCB) Shares Pass Below 50-Day Moving Average – Here’s What Happened

SuperCom, Ltd. (NASDAQ:SPCB) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $9.35 and traded as low as $7.71. SuperCom shares last traded at $7.91, with a volume of 169,777 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPCB. Weiss Ratings restated a “sell (d)” rating on shares of SuperCom in a research report on Monday, December 29th. Wall Street Zen upgraded SuperCom from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, SuperCom presently has an average rating of “Hold” and an average target price of $18.00.

SuperCom Stock Down 6.7%

The firm has a 50 day moving average price of $9.35 and a 200-day moving average price of $10.00. The firm has a market cap of $23.18 million, a price-to-earnings ratio of 10.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.29 and a quick ratio of 9.69.

SuperCom (NASDAQ:SPCB) last announced its quarterly earnings data on Thursday, November 13th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.41. SuperCom had a return on equity of 37.99% and a net margin of 15.53%.The firm had revenue of $6.22 million during the quarter, compared to analysts’ expectations of $5.76 million.

Hedge Funds Weigh In On SuperCom

Several large investors have recently bought and sold shares of SPCB. Corsair Capital Management L.P. acquired a new stake in SuperCom during the 2nd quarter worth $311,000. Citadel Advisors LLC bought a new position in shares of SuperCom in the 3rd quarter worth $254,000. JPMorgan Chase & Co. acquired a new stake in shares of SuperCom during the second quarter worth $31,000. Finally, Apis Capital Advisors LLC grew its stake in shares of SuperCom by 213.3% during the third quarter. Apis Capital Advisors LLC now owns 94,000 shares of the industrial products company’s stock worth $1,132,000 after purchasing an additional 64,000 shares during the period. 47.81% of the stock is currently owned by institutional investors and hedge funds.

About SuperCom

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.