Silver Spring Networks, Inc. (NYSE:SSNI) Closed 7.8% Above Its 50 Day Average


The stock is trading at $12.54 which is a tad above $11.63, the stock’s 50 day moving average and which is significantly higher than the 200 day moving average of $11.30. The 50 day moving average was up $0.91 or +7.85% and the 200 day average went up $1.24 or +11.00%. Silver Spring Networks, Inc. shares had a trading volume of 184K on Friday. Volume was down 36.03% under the stocks average daily volume.

There has been some selling insider activity on Silver Spring Networks, Inc. (NYSE:SSNI) recently. Raj Vaswani, Co-Founder let go of $201,107 worth of shares at a price of $12.82 on Thu the 17th. Vaswani now owns $8,115,534 of stock as recorded in a recent Form 4 SEC filing. Co-Founder Raj Vaswani let go of 20,364 shares at a price of $10.32 on Thu the 8th. That brings Vaswani’s holdings to $6,007,489 as reported to the SEC.

Here are a few additional firms who have increased or decreased their stake in (SSNI). As of the end of the quarter BNP Paribas Arbitrage, SA had bought a total of 4,040 shares growing its position 2,148.9%. The value of the company’s investment in Silver Spring Networks, Inc. went from $2,000 to $47,692,000 a change of 2,384,500.0% since the last quarter. As of quarter end Marathon Capital Management had disposed of 3,750 shares trimming its stake by 1.0%. The value of the investment in Silver Spring Networks, Inc. decreased from $4,324,000 to $4,278,000 decreasing 1.1% for the reporting period.

As of the end of the quarter Schroder Investment Management Group had disposed of a total of 82,258 shares trimming its holdings by 32.3%. The value of the investment in (SSNI) decreased from $2,895,000 to $1,941,000 a change of $954,000 quarter over quarter. First Trust Advisors Lp augmented its ownership by buying 9,855 shares an increase of 9.1% as of 06/30/2017. First Trust Advisors Lp currently owns 118,233 shares with a value of $1,334,000. The value of the position overall is up by 9.0%.

August 14 investment analysts at Canaccord Genuity kept the company rating at “Hold” and moved up the price target to $11.50 from $9.50.

In the market the company is trading down from yesterday’s close of $12.6. As of the last earnings report the EPS was $-0.64 and is projected to be $0.03 for the current year with 53,565,000 shares presently outstanding. Next quarter’s EPS is expected be $0.07 and the next full year EPS is projected to be $0.24.

Silver Spring Networks, Inc., launched on July 3, 2002, is involved in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises hardware, such as access points and relays; its communications modules; its SilverLinkOS network operating software, and its GridScape management and security software. The Company offers an array of solutions built upon SilverLink Network and Data platforms, including advanced metering, distribution automation, demand-side management, street lights and its wireless Internet protocol version 6 (IPv6) network service for the IoT, Starfish..