Short Interest in SURO Capital Corp. (NASDAQ:SSSS) Drops By 23.5%

SURO Capital Corp. (NASDAQ:SSSS) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 210,381 shares, a drop of 23.5% from the November 30th total of 274,912 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily volume of 139,375 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily volume of 139,375 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tactive Advisors LLC raised its holdings in shares of SURO Capital by 7.0% during the 3rd quarter. Tactive Advisors LLC now owns 20,037 shares of the company’s stock valued at $180,000 after purchasing an additional 1,317 shares in the last quarter. Farther Finance Advisors LLC increased its position in SURO Capital by 9.4% during the third quarter. Farther Finance Advisors LLC now owns 20,132 shares of the company’s stock worth $181,000 after buying an additional 1,735 shares during the last quarter. Bank of America Corp DE raised its holdings in SURO Capital by 222.2% during 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 in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of SURO Capital by 2,587.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 3,655 shares of the company’s stock worth $33,000 after buying an additional 3,519 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of SURO Capital in the second quarter worth about $31,000. Institutional investors and hedge funds own 12.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. BTIG Research raised their target price on shares of SURO Capital from $10.00 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen lowered shares of SURO Capital from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of SURO Capital in a research note on Monday. Finally, Barrington Research raised their target price on SURO Capital from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $10.83.

SURO Capital Stock Down 1.0%

Shares of NASDAQ:SSSS traded down $0.09 during midday trading on Wednesday, hitting $9.46. 11,751 shares of the stock were exchanged, compared to its average volume of 227,263. The company has a market capitalization of $237.60 million, a PE ratio of -22.52 and a beta of 1.39. SURO Capital has a 52-week low of $4.21 and a 52-week high of $10.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 18.48 and a current ratio of 18.48. The business’s fifty day simple moving average is $9.42 and its two-hundred day simple moving average is $8.93.

SURO Capital (NASDAQ:SSSS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.08. SURO Capital had a negative return on equity of 5.64% and a net margin of 2,930.42%.The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.17 million.

SURO Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Friday, November 21st. SURO Capital’s dividend payout ratio (DPR) is presently -238.10%.

About SURO Capital

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.