Silver Spring Networks’ (SSNI) Hold Rating Reiterated at Guggenheim

Guggenheim reaffirmed their hold rating on shares of Silver Spring Networks (NYSE:SSNI) in a research report released on Friday, January 12th.

Several other brokerages also recently commented on SSNI. JMP Securities downgraded Silver Spring Networks to a market perform rating in a research note on Tuesday, September 19th. Raymond James Financial downgraded Silver Spring Networks from a strong-buy rating to a mkt perform rating in a research note on Wednesday, September 20th. Zacks Investment Research raised Silver Spring Networks from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Tuesday, January 2nd. ValuEngine raised Silver Spring Networks from a sell rating to a hold rating in a research note on Monday, September 18th. Finally, BidaskClub downgraded Silver Spring Networks from a sell rating to a strong sell rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $14.96.

Shares of Silver Spring Networks (SSNI) opened at $16.26 on Friday. The stock 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 announced its earnings results on Wednesday, November 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.07. equities analysts anticipate that Silver Spring Networks will post -0.34 earnings per share for the current fiscal year.

In other news, EVP Philippe Gaglione sold 24,518 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $16.12, for a total transaction of $395,230.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aysegul Ildeniz sold 16,189 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $16.13, for a total value of $261,128.57. Following the transaction, the chief operating officer now owns 19,664 shares of the company’s stock, valued at approximately $317,180.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 359,521 shares of company stock valued at $5,820,088. Insiders own 25.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SSNI. Schwab Charles Investment Management Inc. boosted its stake in Silver Spring Networks by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 146,434 shares of the technology company’s stock worth $1,652,000 after purchasing an additional 1,296 shares during the period. First Trust Advisors LP boosted its position in shares of Silver Spring Networks by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 118,233 shares of the technology company’s stock valued at $1,334,000 after acquiring an additional 9,855 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Silver Spring Networks by 18.2% during the 2nd quarter. Rhumbline Advisers now owns 48,509 shares of the technology company’s stock valued at $547,000 after acquiring an additional 7,465 shares during the last quarter. Legal & General Group Plc boosted its position 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 valued at $117,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Silver Spring Networks by 14.2% during the 2nd quarter. Swiss National Bank now owns 66,600 shares of the technology company’s stock valued at $751,000 after acquiring an additional 8,300 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

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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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