Media headlines about Silver Spring Networks (NYSE:SSNI) have been trending positive this week, Alpha One Sentiment Analysis reports. The research group, a division of Accern, identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Silver Spring Networks earned a coverage optimism score of 0.26 on Alpha One’s scale. Alpha One also assigned news articles about the technology company an impact score of 100 out of 100, indicating that recent news coverage is extremely likely to have an impact on the stock’s share price in the next several days.
These are some of the news articles that may have effected AlphaOne Sentiment Analysis’s rankings:
- DEWA Signs Agreement With Silver Spring Networks to Provide a Smart Canopy for Innovative Services and Smart … – Yahoo News UK (uk.news.yahoo.com)
- Somewhat Critical Press Coverage Somewhat Unlikely to Affect Silver Spring Networks (SSNI) Stock Price (americanbankingnews.com)
- Company Outlook on Silver Spring Networks, Inc. (NYSE:SSNI) : Analyst Consensus in Focus – The Herald (hiramherald.com)
- Silver Spring Networks (SSNI) Receiving Somewhat Negative News Coverage, AlphaOne Reports (americanbankingnews.com)
- Silver Spring Networks Inc (SSNI) Receives Average Rating of “Buy” from Brokerages (americanbankingnews.com)
Shares of Silver Spring Networks (NYSE:SSNI) traded up 0.89% during mid-day trading on Thursday, reaching $11.36. The company’s stock had a trading volume of 39,567 shares. The company’s market cap is $602.56 million. Silver Spring Networks has a 12 month low of $10.18 and a 12 month high of $15.40. The company has a 50-day moving average of $11.05 and a 200-day moving average of $12.89.
Silver Spring Networks (NYSE:SSNI) last issued its earnings results on Tuesday, February 21st. The technology company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.29. The company had revenue of $66.30 million for the quarter, compared to analysts’ expectations of $76.09 million. During the same period in the previous year, the business posted $0.08 earnings per share. Silver Spring Networks’s revenue was down 66.7% compared to the same quarter last year. Equities research analysts forecast that Silver Spring Networks will post $0.19 earnings per share for the current fiscal year.
A number of equities research analysts have commented on SSNI shares. Canaccord Genuity reiterated a “hold” rating and issued a $13.00 price target on shares of Silver Spring Networks in a research report on Wednesday, February 8th. FBR & Co reiterated an “outperform” rating and issued a $17.00 price target on shares of Silver Spring Networks in a research report on Tuesday, March 28th. JMP Securities started coverage on Silver Spring Networks in a research note on Friday, January 13th. They issued an “outperform” rating and a $19.00 price objective on the stock. Wunderlich downgraded Silver Spring Networks from a “buy” rating to a “hold” rating and dropped their price objective for the company from $17.00 to $14.00 in a research note on Wednesday, February 22nd. Finally, Williams Financial Group downgraded Silver Spring Networks from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.10.
In related news, insider Raj Vaswani sold 25,778 shares of the firm’s stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $10.91, for a total transaction of $281,237.98. Following the completion of the transaction, the insider now owns 607,899 shares of the company’s stock, valued at $6,632,178.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric P. Dresselhuys sold 28,870 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $11.81, for a total transaction of $340,954.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,648 shares of company stock valued at $634,703. 29.60% of the stock is currently owned by corporate insiders.
About Silver Spring Networks
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.
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