Superconductor Technologies, Inc. (NASDAQ:SCON) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 214,500 shares, a decline of 8.4% from the June 30th total of 234,100 shares. Approximately 7.3% of the shares of the company are sold short. Based on an average daily volume of 76,000 shares, the short-interest ratio is currently 2.8 days.
SCON has been the topic of several research analyst reports. Zacks Investment Research cut Superconductor Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. ValuEngine raised Superconductor Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Superconductor Technologies in a research report on Wednesday.
Shares of NASDAQ SCON traded down $0.01 during trading on Thursday, reaching $0.79. 45,200 shares of the stock traded hands, compared to its average volume of 135,827. Superconductor Technologies has a 52-week low of $0.70 and a 52-week high of $2.64. The company has a 50-day moving average of $0.89 and a 200-day moving average of $1.25. The stock has a market capitalization of $4.80 million, a P/E ratio of -0.20 and a beta of 1.02.
About Superconductor Technologies
Superconductor Technologies Inc, together with its subsidiaries, develops, produces, and commercializes high temperature superconductor materials and related technologies in the United States. It is involved in developing Conductus superconducting wire for power applications. The company was founded in 1987 and is headquartered in Austin, Texas.
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