Zacks Investment Research Upgrades SuperCom (SPCB) to “Buy”

Zacks Investment Research upgraded shares of SuperCom (NASDAQ:SPCB) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $2.00 target price on the industrial products company’s stock.

According to Zacks, “SuperCom Ltd. is a provider of radio frequency identification solutions. It offers advanced safety, identification and security products and solutions primarily to Governments, private and public organizations. The Company produces systems for viewing, tracking, locating, credentialing, and managing assets and personnel. SuperCom Ltd., formerly known as Vuance Ltd., is headquartered in Qadima, Israel. “

Separately, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of SuperCom in a research note on Tuesday, August 14th.

Shares of NASDAQ:SPCB traded up $0.03 during midday trading on Thursday, reaching $1.70. The company’s stock had a trading volume of 21,200 shares, compared to its average volume of 143,205. The firm has a market capitalization of $25.28 million, a P/E ratio of -12.00 and a beta of 0.30. SuperCom has a twelve month low of $1.53 and a twelve month high of $4.95.

SuperCom (NASDAQ:SPCB) last released its quarterly earnings data on Monday, August 13th. The industrial products company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. The firm had revenue of $6.76 million for the quarter, compared to analyst estimates of $8.00 million. SuperCom had a negative net margin of 13.75% and a positive return on equity of 4.20%. Equities research analysts forecast that SuperCom will post 0.32 EPS for the current fiscal year.

A hedge fund recently bought a new stake in SuperCom stock. Russell Investments Group Ltd. purchased a new position in shares of SuperCom Ltd. (NASDAQ:SPCB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 180,406 shares of the industrial products company’s stock, valued at approximately $493,000. Russell Investments Group Ltd. owned approximately 1.21% of SuperCom as of its most recent filing with the Securities and Exchange Commission (SEC). 22.36% of the stock is currently owned by hedge funds and other institutional investors.

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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