SURO Capital (NASDAQ:SSSS) Trading 2.1% Higher – Should You Buy?

SURO Capital Corp. (NASDAQ:SSSS)’s share price shot up 2.1% during trading on Wednesday . The stock traded as high as $12.94 and last traded at $12.80. 209,025 shares were traded during trading, a decline of 20% from the average daily volume of 260,384 shares. The stock had previously closed at $12.54.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BTIG Research boosted their target price on SURO Capital from $12.50 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Citigroup reiterated an “outperform” rating on shares of SURO Capital in a research note on Thursday, April 9th. Weiss Ratings raised shares of SURO Capital from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, May 26th. Barrington Research increased their price objective on shares of SURO Capital from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp lifted their target price on shares of SURO Capital from $13.00 to $15.00 and gave the stock a “market outperform” rating in a research report on Thursday, April 9th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.00.

SURO Capital Stock Up 2.1%

The company has a debt-to-equity ratio of 0.19, a current ratio of 24.38 and a quick ratio of 24.38. The firm has a market capitalization of $333.70 million, a P/E ratio of 1.83 and a beta of 1.41. The company’s 50-day simple moving average is $13.37 and its two-hundred day simple moving average is $11.15.

Insider Activity at SURO Capital

In related news, CEO Mark D. Klein bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average cost of $13.08 per share, with a total value of $32,700.00. Following the acquisition, the chief executive officer owned 1,673,521 shares in the company, valued at $21,889,654.68. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.32% of the stock is owned by company insiders.

Institutional Trading of SURO Capital

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in SURO Capital by 222.2% in the 2nd quarter. Bank of America Corp DE now owns 3,267 shares of the company’s stock valued at $27,000 after acquiring an additional 2,253 shares during the last quarter. Raymond James Financial Inc. purchased a new position in SURO Capital during the 2nd quarter valued at approximately $31,000. Invesco Ltd. purchased a new position in SURO Capital during the 1st quarter valued at approximately $62,000. Hazlett Burt & Watson Inc. increased its stake in SURO Capital by 102.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 7,405 shares of the company’s stock worth $68,000 after acquiring an additional 3,750 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in SURO Capital by 58.5% in the 1st quarter. Jane Street Group LLC now owns 18,153 shares of the company’s stock worth $90,000 after acquiring an additional 6,701 shares during the last quarter. Hedge funds and other institutional investors 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.