Silver Spring Networks Inc Sets New 1-Year Low at $15.25 (SSNI)
Silver Spring Networks (NASDAQ:SSNI) set a new 52-week low during trading hours on Monday, StockRatingsNetwork.com reports. The company traded as low as $15.25 and last traded at $15.27, with a volume of 263,053 shares. The stock had previously closed at $15.75.
Several analysts have recently commented on the stock. Analysts at Evercore Partners initiated coverage on shares of Silver Spring Networks (NASDAQ:SSNI) in a research note to investors on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Separately, analysts at Canaccord Genuity set a $25.00 price target on shares of Silver Spring Networks (NASDAQ:SSNI) in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock.
Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $26.71.
In other Silver Spring Networks news, CEO Scott A. Lang sold 63,593 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $17.50, for a total transaction of $1,112,877.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Silver Spring Networks has a one year low of $15.24 and a one year high of $33.82. The stock has a 50-day moving average of $23.28 and a 200-day moving average of $21.13. The company’s market cap is $711.8 million.
Silver Spring Networks (NASDAQ:SSNI) last released its earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.17) by $0.07. The company had revenue of $86.50 million for the quarter, compared to the consensus estimate of $79.60 million. The company’s revenue for the quarter was up 100.6% on a year-over-year basis. On average, analysts predict that Silver Spring Networks will post $0.13 earnings per share for the current fiscal year.
Silver Spring Networks, Inc, provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
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