Silver Spring Networks Inc (SSNI) Given Average Recommendation of “Hold” by Brokerages

Silver Spring Networks Inc (NYSE:SSNI) has been assigned a consensus recommendation of “Hold” from the eighteen analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.58.

A number of brokerages have recently weighed in on SSNI. Guggenheim reaffirmed a “hold” rating on shares of Silver Spring Networks in a report on Friday. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, January 2nd. BidaskClub downgraded shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. Finally, FBR & Co downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Friday, September 22nd.

Silver Spring Networks (SSNI) opened at $16.26 on Tuesday. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $16.26. The stock has a market cap of $880.35, a P/E ratio of -19.59 and a beta of 1.60.

Silver Spring Networks (NYSE:SSNI) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. equities research analysts forecast that Silver Spring Networks will post -0.34 earnings per share for the current year.

In related news, CEO Michael Bell sold 140,230 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total value of $2,275,932.90. Following the completion of the transaction, the chief executive officer now owns 208,068 shares of the company’s stock, valued at approximately $3,376,943.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Raj Vaswani sold 14,273 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $16.07, for a total transaction of $229,367.11. Following the completion of the transaction, the insider now directly owns 106,057 shares of the company’s stock, valued at approximately $1,704,335.99. The disclosure for this sale can be found here. In the last three months, insiders sold 359,521 shares of company stock valued at $5,820,088. 25.20% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Magnetar Financial LLC bought a new position in shares of Silver Spring Networks during the third quarter valued at $31,789,000. Vanguard Group Inc. raised its stake in shares of Silver Spring Networks by 7.6% during the second quarter. Vanguard Group Inc. now owns 1,742,571 shares of the technology company’s stock valued at $19,656,000 after acquiring an additional 123,420 shares during the last quarter. Trigran Investments Inc. raised its stake in shares of Silver Spring Networks by 2.5% during the third quarter. Trigran Investments Inc. now owns 1,491,592 shares of the technology company’s stock valued at $24,119,000 after acquiring an additional 36,206 shares during the last quarter. Ardsley Advisory Partners raised its stake in shares of Silver Spring Networks by 232.6% during the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock valued at $14,264,000 after acquiring an additional 884,000 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Silver Spring Networks by 569.2% during the third quarter. Allianz Asset Management GmbH now owns 1,181,315 shares of the technology company’s stock valued at $19,101,000 after acquiring an additional 1,004,779 shares during the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.

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About Silver Spring Networks

Silver Spring Networks, Inc is engaged 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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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