Support.com Inc. [NASDAQ: SPRT] stock went on an upward path that rose over 231.78% on Monday, amounting to a one-week price increase of more than 233.33%. The company report on March 23, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Support.com, Inc. (NASDAQ:SPRT).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Support.com, Inc. (“Support.com” or the “Company”) (NASDAQ:SPRT) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement with Greenidge Generation Holdings Inc. (“Greenidge”), a privately held holding company that includes Greenidge Generation LLC, a vertically integrated bitcoin mining and power generation facility in Upstate New York. Under the terms of the agreement, Support.com shareholders will retain ownership of only 8% of the combined company, receiving approximately 0.124 shares of Class A common stock of Greenidge for each SPRT share they own. At close of the transaction, SPRT will become a wholly-owned subsidiary of Greenidge.
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The investigation concerns whether the Support.com Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Over the last 12 months, SPRT stock rose by 609.93%. The average equity rating for SPRT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $139.66 million, with 19.24 million shares outstanding and 15.19 million shares in the current float. Compared to the average trading volume of 156.55K shares, SPRT stock reached a trading volume of 279558243 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Support.com Inc. [SPRT]:
Northland Capital have made an estimate for Support.com Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on April 30, 2015. The new note on the price target was released on January 27, 2015, representing the official price target for Support.com Inc. stock. On August 01, 2013, analysts increased their price target for SPRT shares from 5.75 to 6.50.
The Average True Range (ATR) for Support.com Inc. is set at 0.64, with the Price to Sales ratio for SPRT stock in the period of the last 12 months amounting to 3.00. The Price to Book ratio for the last quarter was 4.03, with the Price to Cash per share for the same quarter was set at 1.51. Price to Free Cash Flow for SPRT in the course of the last twelve months was 35.81 with Quick ratio for the last quarter at 8.70.
SPRT Stock Performance Analysis:
Support.com Inc. [SPRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 233.33. With this latest performance, SPRT shares gained by 190.98% in over the last four-week period, additionally plugging by 283.78% over the last 6 months – not to mention a rise of 609.93% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPRT stock in for the last two-week period is set at 94.52, with the RSI for the last a single of trading hit 96.90, and the three-weeks RSI is set at 92.07 for Support.com Inc. [SPRT]. The present Moving Average for the last 50 days of trading for this stock 2.30, while it was recorded at 3.14 for the last single week of trading, and 1.94 for the last 200 days.
Insight into Support.com Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Support.com Inc. [SPRT] shares currently have an operating margin of +4.66 and a Gross Margin at +26.00. Support.com Inc.’s Net Margin is presently recorded at +6.07.
Return on Total Capital for SPRT is now 7.27, given the latest momentum, and Return on Invested Capital for the company is 9.49. Return on Equity for this stock inclined to 9.49, with Return on Assets sitting at 7.49. When it comes to the capital structure of this company, Support.com Inc. [SPRT] has a Total Debt to Total Equity ratio set at 0.23. Additionally, SPRT Total Debt to Total Capital is recorded at 0.23, with Total Debt to Total Assets ending up at 0.20. Long-Term Debt to Equity for the company is recorded at 0.02, with the Long-Term Debt to Total Capital now at 0.02.
Reflecting on the efficiency of the workforce at the company, Support.com Inc. [SPRT] managed to generate an average of $3,124 per employee. Receivables Turnover for the company is 5.84 with a Total Asset Turnover recorded at a value of 1.23.Support.com Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.70 and a Current Ratio set at 8.70.
SPRT Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Support.com Inc. go to 10.00%.
Support.com Inc. [SPRT] Insider Position Details
There are presently around $35 million, or 31.40% of SPRT stock, in the hands of institutional investors. The top three institutional holders of SPRT stocks are: FONDREN MANAGEMENT LP with ownership of 1,301,874, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 893,077 shares of the stock with an approximate value of $1.91 million in SPRT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.9 million in SPRT stock with ownership of nearly -3.597% of the company’s market capitalization.
Positions in Support.com Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 8 institutional holders increased their position in Support.com Inc. [NASDAQ:SPRT] by around 84,356 shares. Additionally, 11 investors decreased positions by around 213,732 shares, while 20 investors held positions by with 4,629,002 shares. The mentioned changes placed institutional holdings at 4,927,090 shares, according to the latest SEC report filing. SPRT stock had 4 new institutional investments in for a total of 57,653 shares, while 6 institutional investors sold positions of 162,003 shares during the same period.