748K shares changed hands on Tuesday. Shares saw a steep increase in trading volume of 159.50% over the normal average daily volume.
Short traders are more bullish on shares of the company lately as inferred by the decrease in short interest. The company experienced a fall in short interest between July 31, 2017 and August 15, 2017 of -1.81%. Short interest fell from 3,081,683 to 3,025,787 over that period. With short interest at 3,025,787 and short average daily volume at 355,977, the short-interest ratio is 8.0 and the percentage of shorted shares is 0.06% as of August 15.
There has been some selling insider activity on Silver Spring Networks, Inc. (NYSE:SSNI) recently. Co-Founder Raj Vaswani disclosed the sale of 14,272 shares. The shares sold for $12.59. The Co-Founder now owns $7,969,936 of the stock per the Form 4 SEC filing. Co-Founder Raj Vaswani sold 15,687 shares at a price of $12.82 on Thu the 17th. That brings the Co-Founder’s holdings to $8,115,534 per an SEC filing yesterday.
The following firms have recently changed their position in SSNI. As of quarter end Trexquant Investment Lp had sold a total of 7,805 shares trimming its stake by 34.0%. The value of the total investment in Silver Spring Networks, Inc. went from $306,000 to $171,000 decreasing 44.1% quarter to quarter. As of the end of the quarter Ubs Group Ag had acquired 4,701 shares growing its position 416.4%. The value of the investment in Silver Spring Networks, Inc. increased from $13,000 to $66,000 a change of 407.7% since the last quarter.
As of the end of the quarter Bronfman E.l. Rothschild, L.p. had acquired a total of 90 shares growing its holdings by 8.6%. The value of the investment in (SSNI) went from $12,000 to $13,000 a change of $1,000 quarter over quarter. Neuberger Berman Group LLC grew its stake by buying 197,957 shares an increase of 7.3% from 03/31/2017 to 06/30/2017. Neuberger Berman Group LLC controls 2,892,353 shares valued at $32,626,000. The value of the position overall is up by 7.3%.
August 14 investment analysts at Canaccord Genuity kept the stock rating at “Hold” but raised the price target from $9.50 to $11.50.
The company is now up by 4.11%% since yesterday’s close of 12.65. Company chares are trading at $13.17 which is marginally higher than the 50 day moving average which is $12.19 and which is significantly above the 200 day moving average of $11.22. The 50 day moving average moved up $0.98 and the 200 day average went up $1.95 or +17.37%.
As of the latest earnings report the EPS was $-0.64 and is projected to be $0.03 for the current year with 53,565,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.07 and the next full year EPS is anticipated to be $0.27.
Silver Spring Networks, Inc., launched on July 3, 2002, is involved 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. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises hardware, such as access points and relays; its communications modules; its SilverLinkOS network operating software, and its GridScape management and security software. The Company offers an array of solutions built upon SilverLink Network and Data platforms, including advanced metering, distribution automation, demand-side management, street lights and its wireless Internet protocol version 6 (IPv6) network service for the IoT, Starfish..