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

Shares of Silver Spring Networks Inc (NYSE:SSNI) have received an average recommendation of “Hold” from the eighteen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $14.58.

A number of brokerages recently commented on SSNI. Guggenheim reiterated a “hold” rating on shares of Silver Spring Networks in a research note on Friday, January 12th. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the company a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research upgraded shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, BidaskClub lowered shares of Silver Spring Networks from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd.

In other Silver Spring Networks news, 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 transaction, the insider now owns 106,057 shares in the company, valued at approximately $1,704,335.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Theresa Stynes sold 17,618 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $16.23, for a total transaction of $285,940.14. Following the transaction, the insider now owns 24,519 shares in the company, valued at approximately $397,943.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,117 shares of company stock worth $4,669,524. Company insiders own 25.20% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its holdings in shares of Silver Spring Networks by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock worth $117,000 after acquiring an additional 1,005 shares during the period. Longfellow Investment Management Co. LLC bought a new stake in shares of Silver Spring Networks during the 3rd quarter worth approximately $162,000. Stifel Financial Corp lifted its holdings in shares of Silver Spring Networks by 19.3% during the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock worth $162,000 after acquiring an additional 2,285 shares during the period. FNY Partners Fund LP bought a new stake in shares of Silver Spring Networks during the 4th quarter worth approximately $197,000. Finally, LMR Partners LLP bought a new stake in shares of Silver Spring Networks during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.

Silver Spring Networks (NYSE SSNI) opened at $16.26 on Friday. The firm has a market cap of $880.35, a PE ratio of -19.59 and a beta of 1.60. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $16.26.

Silver Spring Networks (NYSE:SSNI) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. The firm had revenue of $82.79 million for the quarter, compared to analyst estimates of $77.32 million. equities research analysts forecast that Silver Spring Networks will post -0.34 EPS for the current year.

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Silver Spring Networks Company Profile

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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