Short Interest in SURO Capital Corp. (NASDAQ:SSSS) Expands By 23.1%

SURO Capital Corp. (NASDAQ:SSSS) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 246,333 shares, an increase of 23.1% from the February 26th total of 200,129 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 372,196 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barrington Research raised their price target on shares of SURO Capital from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. BTIG Research boosted their price objective on shares of SURO Capital from $10.50 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Capital One Financial set a $12.00 target price on shares of SURO Capital in a research note on Monday, January 5th. Citizens Jmp lifted their target price on shares of SURO Capital from $11.00 to $13.00 and gave the company a “market outperform” rating in a report on Thursday, March 12th. Finally, Lucid Cap Mkts raised shares of SURO Capital to a “strong-buy” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.13.

SURO Capital Stock Performance

SURO Capital stock opened at $10.71 on Wednesday. The firm has a market capitalization of $271.93 million, a PE ratio of 6.05 and a beta of 1.43. SURO Capital has a one year low of $4.21 and a one year high of $10.74. The stock’s 50 day moving average price is $9.59 and its 200 day moving average price is $9.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 54.37 and a current ratio of 54.37.

SURO Capital (NASDAQ:SSSS) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.23) earnings per share (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 8.12%. The firm had revenue of $0.56 million during the quarter, compared to analyst estimates of $0.35 million.

Institutional Investors Weigh In On SURO Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSSS. Gabelli Funds LLC boosted its position in SURO Capital by 13.9% in the 2nd quarter. Gabelli Funds LLC now owns 1,450,834 shares of the company’s stock valued at $11,911,000 after buying an additional 176,674 shares during the last quarter. Green Alpha Advisors LLC purchased a new stake in shares of SURO Capital during the fourth quarter worth about $504,000. Gamco Investors INC. ET AL lifted its stake in shares of SURO Capital by 26.2% in the second quarter. Gamco Investors INC. ET AL now owns 285,000 shares of the company’s stock worth $2,340,000 after acquiring an additional 59,250 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of SURO Capital in the second quarter worth about $122,000. Finally, Cresset Asset Management LLC purchased a new position in SURO Capital in the third quarter valued at about $120,000. Hedge funds and other institutional investors own 12.95% of the company’s stock.

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.