Silver Spring Networks Inc Sets New 1-Year Low at $14.63 (SSNI)
Silver Spring Networks (NASDAQ:SSNI) set a new 52-week low during mid-day trading on Monday, Analyst RN reports. The stock traded as low as $14.63 and last traded at $14.97, with a volume of 368,330 shares. The stock had previously closed at $15.26.
SSNI has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. upgraded shares of Silver Spring Networks from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 25th. They now have a $26.00 price target on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of Silver Spring Networks in a research note to investors on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Finally, analysts at Canaccord Genuity set a $25.00 price target on shares of Silver Spring Networks in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Silver Spring Networks presently has an average rating of “Buy” and an average target price of $26.63.
In other Silver Spring Networks news, VP Carrie Kalinowski sold 8,171 shares of Silver Spring Networks stock on the open market in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $16.51, for a total value of $134,903.21. Following the transaction, the vice president now directly owns 13,928 shares in the company, valued at approximately $229,951. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Silver Spring Networks has a one year low of $15.09 and a one year high of $33.82. The stock has a 50-day moving average of $17. and a 200-day moving average of $20.53. The company’s market cap is $701.0 million.
Silver Spring Networks (NASDAQ:SSNI) last announced its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the 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. Silver Spring Networks’s revenue was up 100.6% compared to the same quarter last year. Analysts expect that Silver Spring Networks will post $0.13 EPS 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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