Silver Spring Networks Inc (SSNI) Receives Average Recommendation of “Hold” from Brokerages

Silver Spring Networks Inc (NYSE:SSNI) has been assigned an average rating of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.58.

Several equities research analysts have recently weighed in on the stock. Guggenheim reaffirmed a “hold” rating on shares of Silver Spring Networks in a research report on Friday, January 12th. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the stock a “hold” rating in a research 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 research report on Tuesday, January 2nd. Finally, BidaskClub cut shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th.

In other Silver Spring Networks news, COO Aysegul Ildeniz sold 16,189 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $16.13, for a total transaction of $261,128.57. Following the transaction, the chief operating officer now owns 19,664 shares in the company, valued at approximately $317,180.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Vaswani sold 14,273 shares of the company’s 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 272,429 shares of company stock valued at $4,417,261. 25.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of SSNI. Legal & General Group Plc increased its stake in 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 valued at $117,000 after purchasing an additional 1,005 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Silver Spring Networks during the 3rd quarter valued at approximately $162,000. Stifel Financial Corp increased its stake in Silver Spring Networks by 19.3% during the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after purchasing an additional 2,285 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Silver Spring Networks during the 4th quarter valued at approximately $170,000. Finally, FNY Partners Fund LP acquired a new position in Silver Spring Networks during the 4th quarter valued at approximately $197,000. Institutional investors and hedge funds own 75.53% of the company’s stock.

Shares of Silver Spring Networks (SSNI) traded up $0.02 on Friday, hitting $16.26. 60,300 shares of the stock traded hands, compared to its average volume of 559,125. 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 PE ratio of -19.59 and a beta of 1.60.

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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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