Silver Spring Networks, Inc. (NYSE:SSNI) Stock Closed 8.0% Above Its 50 Day Average


Shares of the company are trading at $12.56 which is a tad above $11.63, the 50 day moving average and which is quite a bit higher than the 200 day moving average of $11.30. The 50 day moving average moved up $0.93 whereas the 200 day moving average was up $1.26 or +11.18%. Trading was light with 249K shares changing hands on Thursday. Trading volume was down 13.70% under the stocks average daily volume.

Traders are more bullish on shares of Silver Spring Networks, Inc. of late looking at the fall in short interest. The stock realized a fall in short interest between July 31, 2017 and August 15, 2017 of -1.81%. Short interest fell 55,896 over that timeframe. With short interest at 3,025,787 and short average daily volume at 355,977, days to cover is 8.0 and the short interest percentage is 0.24% as of August 15.

Here is the rundown on market activity for Silver Spring Networks, Inc. (NYSE:SSNI). Raj Vaswani, Co-Founder sold $201,107 worth of shares at a price of $12.82 on August 17th. Vaswani now owns $8,115,534 of stock as reported to the SEC.

These funds have also shifted positions in (SSNI). As of quarter end Trexquant Investment Lp had disposed of 7,805 shares trimming its holdings by 34.0%. The value in dollars went from $306,000 to $171,000 a change of $135,000 since the last quarter. Ubs Group Ag bolstered its ownership by buying 4,701 shares an increase of 416.4% as of 06/30/2017. Ubs Group Ag owns 5,830 shares valued at $66,000. The total value of its holdings increased 407.7%.

Bronfman E.l. Rothschild, L.p. added to its investment by buying 90 shares an increase of 8.6% from 03/31/2017 to 06/30/2017. Bronfman E.l. Rothschild, L.p. controls 1,132 shares worth $13,000. The value of the position overall is up by 8.3%. As of the end of the quarter Neuberger Berman Group LLC had bought a total of 197,957 shares growing its position 7.3%. The value of the investment in Silver Spring Networks, Inc. increased from $30,420,000 to $32,626,000 increasing 7.3% for the reporting period.

On August 14 Canaccord Genuity made no change to the company rating of “Hold” but moved up the price target from $9.50 to $11.50.

In the market the company is trading down by -0.48% since yesterday’s close of $12.62. In the latest earnings report the EPS was $-0.64 and is estimated to be $0.03 for the current year with 53,565,000 shares outstanding. Next quarter’s EPS is expected be $0.07 with next year’s EPS anticipated 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..