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SSSS

SuRo Capital NasdaqGS:SSSS Stock Report

Last Price

US$3.87

Market Cap

US$117.4m

7D

-12.0%

1Y

-69.9%

Updated

02 Oct, 2022

Data

Company Financials +
SSSS fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance0/6
Financial Health5/6
Dividends0/6

SSSS Stock Overview

SuRo Capital Corp. is a business development company.

SuRo Capital Corp. Competitors

Price History & Performance

Summary of all time highs, changes and price drops for SuRo Capital
Historical stock prices
Current Share PriceUS$3.87
52 Week HighUS$16.12
52 Week LowUS$3.87
Beta1.39
1 Month Change-37.48%
3 Month Change-40.28%
1 Year Change-69.91%
3 Year Change-34.07%
5 Year Change-32.34%
Change since IPO-73.49%

Recent News & Updates

Sep 08

The SPAC Collapse Isn't Good News For SuRo Capital

Summary The collapse of SPACs has left SuRo Capital without its main source of exits on its investments. NAV per share at $9.24 places the fund in relative value territory. The company launched a tender offer in a bid to try and close this gap. While the discount will likely remain sticky on the back of continued macro headwinds, SuRo's large cash position will drive future shareholder value. New York-based SuRo Capital (SSSS) has had a colorful history as a public company. Three name changes in recent years first from GSV Capital to Sutter Rock and then to the current iteration have come against surging investor interest in private company investments as venture capital takes on a more outsized role in the economy. Many companies are choosing to stay private far longer than they historically have. SuRo Capital is an internally managed investment fund that seeks to invest in high-growth, venture-backed private companies. The fund has built a diverse portfolio of fast-growing private startups, some of which like Forge Global (FRGE), Rover Group (ROVR), and Nextdoor (KIND) went public just last year on the back of the blank check boom. The SPAC phenomenon, driven by an incredible mix of euphoric animal spirits and non-prudent management guidance has all but come to a quiet end as the broader stock market crashed. SPACs have raised around $12.7 billion this year, down from the $166 billion in 2021 as just 50 deals were completed. This was a fraction of 226 deals in 2021 and came on the back of a number of underwriters including Goldman (GS) pausing new offerings and withdrawing support from those they helped take public. As if things were not bad enough, the SEC under Gary Gensler is proposing a more onerous regulatory regime with reforms that would limit the ability of new SPACs to provide financial projections in excess of that which would have been permitted under the conventional IPO process. SPACs have become notorious for pulling these overly optimistic forecasts just after going public. Financial Times - Refinitiv For SuRo, the collapse of SPACs closes what has been a significant route for cash realizations. Indeed, the company continues to hold equity stakes in a number of pre-definitive agreement blank check firms like Churchill Capital Corp VI (CCVI) and Churchill Capital Corp VII (CVII). A Material Discount To Book Value As Growth Collapses As SuRo's main operations involve the management of its investment portfolio of small fast-growing companies so conventional metrics like revenue are not entirely useful. The company's last reported earnings for its fiscal 2022 second quarter saw net assets total $280.2 million, for a NAV per share of $9.24. This was a sequential decline from a NAV per share of $12.22 in the previous quarter. The decline has been led by torrid equity market conditions since the first half of this year. The broad-based decline in public market common shares, the worst in half a century, spilt over to the private markets as numerous late-stage unicorns experienced turbulent conditions that led to new financing rounds completed at discounts to valuations from previous capital raises. SuRo trades at a discount of 35.6% to NAV with shares currently at $5.95. This large discount to its book value pushed management to launch a now expired tender offer to purchase up to 2,000,000 shares of its common stock, roughly 6.60% of shares outstanding. It's hard to assess this as a success as shares now trade below the $6 purchase floor implemented by management. However, in lieu of other investment opportunities, the tender offer makes sense when looked at from a long-term perspective.

Aug 03

SuRo Capital GAAP EPS of -$3.08, revenue of $0.89M

SuRo Capital press release (NASDAQ:SSSS): Q2 GAAP EPS of -$3.08. Revenue of $0.89M (+229.6% Y/Y).

Shareholder Returns

SSSSUS Capital MarketsUS Market
7D-12.0%-2.3%-2.5%
1Y-69.9%-25.4%-23.2%

Return vs Industry: SSSS underperformed the US Capital Markets industry which returned -25.4% over the past year.

Return vs Market: SSSS underperformed the US Market which returned -23.2% over the past year.

Price Volatility

Is SSSS's price volatile compared to industry and market?
SSSS volatility
SSSS Average Weekly Movement4.9%
Capital Markets Industry Average Movement0.4%
Market Average Movement6.8%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

Stable Share Price: SSSS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SSSS's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20109Mark Kleinhttps://www.surocap.com

SuRo Capital Corp. is a business development company. The firm seeks to invest in growing, late stage, venture capital-backed private companies. SuRo Capital Corp. was founded in 2010 and is based in San Francisco, California.

SuRo Capital Corp. Fundamentals Summary

How do SuRo Capital's earnings and revenue compare to its market cap?
SSSS fundamental statistics
Market CapUS$117.36m
Earnings (TTM)-US$68.17m
Revenue (TTM)US$2.38m

49.3x

P/S Ratio

-1.7x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SSSS income statement (TTM)
RevenueUS$2.38m
Cost of RevenueUS$0
Gross ProfitUS$2.38m
Other ExpensesUS$70.55m
Earnings-US$68.17m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-2.25
Gross Margin100.00%
Net Profit Margin-2,866.25%
Debt/Equity Ratio26.1%

How did SSSS perform over the long term?

See historical performance and comparison