SuperCom (NASDAQ: SPCB) stock surged 30.17% to $1.83 in the premarketing session. The stock also gained 23.89% over the past month, 60.38% over the past three months, and -9.68% over the past six months. SPCB volatility over the past month was 12.73%, while volatility over the past week was 16.79%.
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What is the latest news about SPCB?
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SuperCom (NASDAQ: SPCB)has been providing traditional and digital identity solutions to governments and organizations throughout the world since 1988, providing advanced safety, identification, and security solutions.
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On February 4, 2021, financing with gross proceeds of $7 million was closed by SuperCom (NASDAQ: SPCB) to support its growth capital needs.
Various institutional investors received $7 million in gross proceeds from SuperCom’s 2-year unsecured, subordinated promissory note. The note incorporates a 5% annual coupon along with a built-in increase every six months to the note balance for any remaining amount not paid down before maturity. At maturity, all principal and interest must be paid in one lump sum payment. The company may prepay any portion of the note without incurring a penalty. At the company’s discretion, SuperCom can repurchase all its ordinary shares at any time after the note has been outstanding for 12 months, subject to certain conditions being met.
We are delighted that this capital has been secured, which supports our business plan for future growth. Several government contracts have been won, dislodging our competition, proprietary technology has introduced new capabilities and improved performance, and nations are increasingly making use of electronic monitoring and cybersecurity technology, which has allowed us to focus more on growth, said company President and CEO Arie Trabelsi.
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Finally,
Wall Street analysts expectSPCB’s price to rise 44.0% to $2.50 a share a year from now. On average, Street analysts recommend 3.00, which is scored on a scale from 1 to 5, where 1 represents “Strong Buy” and 5 illustrates”Strong Sell.”Research analysts may not be more accurate than the average professional, but they are far better at identifying winners. Their buy ratings have about a 70% correct rate; buy recommendations make up 85% of all accurate ratings.
- Tags: NASDAQ: SPCB, SPCB, SPCB STOCK, SPCB STOCK PRICE, SuperCom
