SURO Capital (NASDAQ:SSSS) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

SURO Capital (NASDAQ:SSSS) announced its quarterly earnings data on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03), Zacks reports. SURO Capital had a negative return on equity of 5.64% and a net margin of 2,930.42%.The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.35 million.

SURO Capital Trading Up 9.7%

NASDAQ SSSS traded up $0.89 during trading hours on Tuesday, reaching $10.03. The company’s stock had a trading volume of 917,456 shares, compared to its average volume of 197,990. 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 current ratio of 18.48 and a quick ratio of 18.48. The stock has a market cap of $251.98 million, a P/E ratio of -23.90 and a beta of 1.43. The firm has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $9.31.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Capital One Financial set a $12.00 price target on shares of SURO Capital in a report on Monday, January 5th. Wall Street Zen cut SURO Capital from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SURO Capital in a report on Monday, December 29th. Lucid Cap Mkts upgraded SURO Capital to a “strong-buy” rating in a research note on Monday, January 5th. Finally, BTIG Research restated a “buy” rating and set a $10.50 price objective on shares of SURO Capital in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.13.

Hedge Funds Weigh In On SURO Capital

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its position in SURO Capital by 222.2% during the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock worth $27,000 after purchasing an additional 2,253 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of SURO Capital during the second quarter worth about $31,000. Invesco Ltd. bought a new stake in SURO Capital in the first quarter valued at approximately $62,000. Jane Street Group LLC increased its position in SURO Capital by 58.5% during the 1st quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock valued at $90,000 after purchasing an additional 6,701 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in SURO Capital during the 3rd quarter worth approximately $114,000. Institutional investors and hedge funds 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.