SURO Capital (NASDAQ:SSSS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of SURO Capital (NASDAQ:SSSS) from a hold rating to a sell rating in a research note published on Saturday.

SSSS has been the topic of several other reports. Barrington Research raised their price objective on SURO Capital from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Capital One Financial set a $12.00 target price on SURO Capital in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SURO Capital in a research note on Monday, December 29th. Citizens Jmp raised their target price on SURO Capital from $11.00 to $13.00 and gave the company a “market outperform” rating in a report on Thursday, March 12th. Finally, BTIG Research boosted their price target on SURO Capital from $10.50 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, SURO Capital has an average rating of “Buy” and a consensus price target of $13.13.

SURO Capital Price Performance

SURO Capital stock opened at $10.00 on Friday. The firm has a fifty day moving average of $9.47 and a 200-day moving average of $9.36. SURO Capital has a 52-week low of $4.21 and a 52-week high of $10.36. The company has a quick ratio of 54.37, a current ratio of 54.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $253.90 million, a P/E ratio of 5.65 and a beta of 1.43.

SURO Capital (NASDAQ:SSSS) last posted its earnings results on Monday, March 9th. The company reported ($0.23) earnings per share 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 business had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.35 million.

Hedge Funds Weigh In On SURO Capital

A number of institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC grew its stake in shares of SURO Capital by 13.9% during the second quarter. Gabelli Funds LLC now owns 1,450,834 shares of the company’s stock valued at $11,911,000 after acquiring an additional 176,674 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of SURO Capital by 26.2% during 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 during the last quarter. Franklin Resources Inc. lifted its stake in shares of SURO Capital by 8.7% in the second quarter. Franklin Resources Inc. now owns 240,545 shares of the company’s stock worth $1,975,000 after acquiring an additional 19,350 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of SURO Capital in the third quarter worth about $319,000. Finally, Stratos Wealth Partners LTD. purchased a new position in SURO Capital in the third quarter valued at about $224,000. Institutional investors and hedge funds own 12.95% of the company’s stock.

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.