The Silver Spring Networks Inc (SSNI) Lowered to Sell at Zacks Investment Research

The Silver Spring Networks Inc (SSNI) Lowered to Sell at Zacks Investment Research

According to Zacks, “Silver Spring Networks, Inc. operates as a networking platform and solutions provider for smart energy networks. It enables utilities to transform the power grid infrastructure into the smart grid. The Company supplies hardware, software and services that connect devices on the grid that deploys metering, demand response, distribution automation, and distributed generation. Silver Spring Networks, Inc. is headquartered in Redwood City, CA. “

Silver Spring Networks Inc (NYSE:SSNI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, May 16th.

A number of other equities research analysts also recently commented on SSNI. Canaccord Genuity reiterated a “hold” rating and set a $13.00 price target on shares of Silver Spring Networks in a report on Wednesday, February 8th. Robert W. Baird lowered their target price on shares of Silver Spring Networks from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. Wunderlich downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $14.00 in a report on Wednesday, February 22nd. FBR & Co set a $17.00 target price on shares of Silver Spring Networks and gave the company a “buy” rating in a report on Wednesday, February 22nd. Finally, Williams Capital downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating and set a $11.00 target price for the company. in a report on Monday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $14.67.

Silver Spring Networks (NYSE:SSNI) opened at 10.19 on Tuesday. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $15.40. The company has a 50-day moving average price of $10.74 and a 200 day moving average price of $12.18. The stock’s market cap is $541.82 million. In related news, insider Raj Vaswani sold 25,778 shares of the company’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $10.91, for a total value of $281,237.98. Following the sale, the insider now directly owns 607,899 shares of the company’s stock, valued at $6,632,178.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.60% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SSNI. Prudential Financial Inc. bought a new stake in Silver Spring Networks during the third quarter valued at about $724,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Silver Spring Networks by 97.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,905 shares of the technology company’s stock valued at $1,147,000 after buying an additional 40,000 shares in the last quarter. Ardsley Advisory Partners bought a new stake in Silver Spring Networks during the third quarter valued at about $4,747,000. Summit Partners Public Asset Management LLC bought a new stake in Silver Spring Networks during the third quarter valued at about $3,545,000. Finally, Robecosam AG boosted its stake in Silver Spring Networks by 5.9% in the third quarter. Robecosam AG now owns 517,900 shares of the technology company’s stock valued at $7,292,000 after buying an additional 28,900 shares in the last quarter. 76.63% of the stock is currently owned by hedge funds and other institutional investors. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SSNI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Silver Spring Networks (SSNI)

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