SuRo Capital Becomes Oversold (SSSS) Thursday, July 22, 11:59 AM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Reminder - SuRo Capital (SSSS) Goes Ex-Dividend Soon Friday, August 13, 10:01 AM ET, by Market News Video Staff On 8/17/21, SuRo Capital Corp. (SSSS) will trade ex-dividend, for its annual dividend of $2.25, ...
Notable Two Hundred Day Moving Average Cross - SSSS Wednesday, August 18, 2:18 PM ET, by Market News Video Staff In trading on Wednesday, shares of SuRo Capital Corp. (SSSS) crossed below their 200 day ...
SSSS Crosses Below Key Moving Average Level Tuesday, November 16, 1:33 PM ET, by Market News Video Staff In trading on Tuesday, shares of SuRo Capital Corp. (SSSS) crossed below their 200 day ...
New 52-Week Low Could Prompt More Insider Buying At SSSS
By Market News Video Staff, Monday, June 13, 1:21 PM ET
In trading on Monday, shares of SuRo Capital Corp. (NASDAQ:SSSS) touched a new 52-week low of $6.73/share. That's a $9.67 share price drop, or -58.96% decline from the 52-week high of $16.40 set back on 08/16/2021. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for SSSS that means the stock would have to gain 143.68% to get back to the 52-week high. For a move like that, SuRo Capital Corp. would need fundamental strength at the business level.
Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as SSSS shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, SSSS has seen 2 different instances of insiders buying over the past six months.
In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where SSSS has traded over the past year, with the 50-day and 200-day moving averages included.
Time will tell whether the insider purchases foretell a future rebound for SSSS shares, which are presently showing a last trade of $6.84/share, slightly above the new 52-week low.
This Article's Word Cloud:AllisonBargainsCapitalChairmanCheaperCorpGreenHereInsiderInsidersKleinLargeMarkMondayOftentimesPresidentPricePurchasedRemarksSSSSShareSharesStartSuRoThanThatbackbelowbusinesscompanyfromhighinsiderslastlevelmeansoverpastpercentagepricesharesharesstockthattradeweekwerewhetherwithwould
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