Silver Spring Networks (SSNI) Given a $16.00 Price Target by B. Riley Analysts

Silver Spring Networks (NYSE:SSNI) has been assigned a $16.00 price target by B. Riley in a research note issued on Thursday. The brokerage currently has a “hold” rating on the technology company’s stock. B. Riley’s target price would indicate a potential downside of 1.48% from the company’s current price.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday. BidaskClub downgraded shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. FBR & Co downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Friday, September 22nd. Raymond James Financial cut shares of Silver Spring Networks from a “strong-buy” rating to a “mkt perform” rating in a research note on Wednesday, September 20th. Finally, JMP Securities cut shares of Silver Spring Networks to a “market perform” rating in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Silver Spring Networks currently has an average rating of “Hold” and a consensus target price of $15.27.

Silver Spring Networks (NYSE SSNI) traded down $0.01 on Thursday, reaching $16.24. 1,209,600 shares of the company traded hands, compared to its average volume of 1,055,900. The company has a market cap of $879.54 and a P/E ratio of -19.57. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $16.26.

In other news, insider Theresa Stynes sold 46,886 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $16.11, for a total transaction of $755,333.46. Following the sale, the insider now owns 23,749 shares in the company, valued at approximately $382,596.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Bell sold 140,230 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total transaction of $2,275,932.90. Following the sale, the chief executive officer now owns 208,068 shares in the company, valued at approximately $3,376,943.64. The disclosure for this sale can be found here. Insiders sold a total of 359,521 shares of company stock worth $5,820,088 over the last quarter. Corporate insiders own 25.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Silver Spring Networks during the 2nd quarter valued at $117,000. Legal & General Group Plc raised 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 buying an additional 1,005 shares in the last quarter. Stifel Financial Corp raised its position in shares of 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 buying an additional 2,285 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Silver Spring Networks during the 3rd quarter valued at $162,000. Finally, LMR Partners LLP purchased a new stake in shares of Silver Spring Networks during the 3rd quarter valued at $200,000. Hedge funds and other institutional investors 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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