Barrington Research Forecasts Strong Price Appreciation for SURO Capital (NASDAQ:SSSS) Stock

SURO Capital (NASDAQ:SSSS) had its target price lifted by Barrington Research from $12.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target would suggest a potential upside of 48.37% from the stock’s previous close.

A number of other research firms also recently commented on SSSS. Lucid Cap Mkts upgraded shares of SURO Capital to a “strong-buy” rating in a research note on Monday, January 5th. Wall Street Zen downgraded shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b-)” rating on shares of SURO Capital in a research note on Monday, December 29th. Capital One Financial set a $12.00 price target on shares of SURO Capital in a research report on Monday, January 5th. Finally, BTIG Research lifted their price target on SURO Capital from $10.50 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, SURO Capital currently has an average rating of “Buy” and a consensus target price of $13.13.

SURO Capital Price Performance

SSSS stock opened at $10.11 on Wednesday. The stock’s 50 day moving average is $9.46 and its two-hundred day moving average is $9.33. SURO Capital has a 52-week low of $4.21 and a 52-week high of $10.36. The company has a market capitalization of $253.96 million, a PE ratio of 5.71 and a beta of 1.43. The company has a quick ratio of 18.48, a current ratio of 18.48 and a debt-to-equity ratio of 0.32.

SURO Capital (NASDAQ:SSSS) last released its earnings results on Monday, March 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.03). SURO Capital had a net margin of 2,894.90% and a negative return on equity of 8.15%. The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.35 million.

Hedge Funds Weigh In On SURO Capital

Several institutional investors have recently made changes to their positions in SSSS. Bank of America Corp DE lifted its stake in SURO Capital by 222.2% in the second quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock valued at $27,000 after buying an additional 2,253 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of SURO Capital by 2,587.5% during the third quarter. Hazlett Burt & Watson Inc. now owns 3,655 shares of the company’s stock worth $33,000 after acquiring an additional 3,519 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SURO Capital in the 2nd quarter worth about $31,000. Byrne Asset Management LLC acquired a new stake in shares of SURO Capital in the 3rd quarter worth about $83,000. Finally, Coastal Bridge Advisors LLC bought a new stake in SURO Capital in the 3rd quarter valued at about $101,000. 12.95% of the stock is owned by institutional investors.

SURO Capital Company Profile

SURO Capital Corp (NASDAQ: SSSS) is a closed-end management investment company that operates as a business development company (BDC). Founded in 2013 and headquartered in Lewisville, Texas, SURO Capital provides capital solutions to lower middle-market companies across a range of industries. As a BDC, the company is governed by the Investment Company Act of 1940 and focuses on offering debt and equity financing to privately held businesses that may have limited access to traditional bank lending.

The firm’s primary business activities include originating and managing a diversified portfolio of senior secured floating rate loans, unsecured loans, unitranche debt, and equity co-investments.