SuperCom Ltd. (NASDAQ:SPCB) Short Interest Down 24.3% in April

SuperCom Ltd. (NASDAQ:SPCB) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 833,000 shares, a decline of 24.3% from the March 31st total of 1,100,000 shares. Based on an average daily volume of 5,320,000 shares, the short-interest ratio is presently 0.2 days. Currently, 5.9% of the company’s stock are short sold.

Shares of SuperCom stock traded down $0.04 during trading on Tuesday, hitting $1.37. The stock had a trading volume of 15,304 shares, compared to its average volume of 5,122,475. The stock has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.28. SuperCom has a 1 year low of $0.71 and a 1 year high of $3.09.

Separately, HC Wainwright raised shares of SuperCom from a “neutral” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Monday.

A hedge fund recently bought a new stake in SuperCom stock. Virtu Financial LLC purchased a new stake in SuperCom Ltd. (NASDAQ:SPCB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 146,771 shares of the industrial products company’s stock, valued at approximately $151,000. Virtu Financial LLC owned approximately 0.78% of SuperCom as of its most recent filing with the Securities and Exchange Commission (SEC). 13.96% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: What is a Market Correction?

Receive News & Ratings for SuperCom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SuperCom and related companies with MarketBeat.com's FREE daily email newsletter.