Shares of SuperCom Ltd. (NASDAQ: SPCB) rocketed 64.14% on Friday’s session. The strong performance of the firm has highlighted the positive reactions of investors after the firm disclosed that it has secured a tender with the Israeli administration for lease of the firm’s patented PureHealth Coronavirus (COVID-19) Quarantine Compliance Solution.
This countrywide project is anticipated to start next week, in conjunction with signing a contract, for an initial period of 3 months, with the possibility to be expanded for up to 36 months. It has been projected that the new project will generate $3 million per month in repeated revenues for SuperCom. But it is also expected that the revenue might rise, or decline based on actual usage.
Shares of SuperCom went up 64.14% with a heavy volume of 75.69 as compared to the average volume of 4.11 million. The firm has recorded the day low range of $2.31 and a day high range of $2.95. Looking at its liquidity, it has a current ratio of 1.60 and a quick ratio of 1.40. The firm’s market capitalization has reached $27.42 million at the time of writing.
SPCB previously executed a successful pilot program in which tourists coming to Israel's international airport were allowed to go on home quarantine for 10-14 days with PureCare technology and the program of SPCB. After witnessing the high demand for the program, the Israeli Ministry of Health has immediately asked for the bracelet-based COVID-19 quarantine solution to allow Israel's international airports to be opened for large numbers of passengers to enter the country daily.