SuperCom (NASDAQ:SPCB) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of SuperCom (NASDAQ:SPCB) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. HC Wainwright currently has a $2.50 price objective 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.

Several other research analysts have also commented on SPCB. ValuEngine lowered shares of SuperCom from a buy rating to a hold rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of SuperCom from a sell rating to a hold rating in a report on Saturday, August 10th.

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

SuperCom (NASDAQ:SPCB) last posted its quarterly earnings results on Wednesday, August 14th. The industrial products company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $5.67 million during the quarter, compared to analysts’ expectations of $6.00 million. As a group, sell-side analysts anticipate that SuperCom will post 0.15 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its position in SuperCom by 143.8% in the second quarter. Susquehanna International Group LLP now owns 28,746 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 16,956 shares during the period. Jane Street Group LLC grew its position in SuperCom by 30.3% in the second quarter. Jane Street Group LLC now owns 45,931 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 10,677 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in SuperCom by 214.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 44,000 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 30,000 shares during the period. Hedge funds and other institutional investors own 18.46% of the company’s stock.

SuperCom Company Profile

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: Cryptocurrencies

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.