Price Action To Observe: Silver Spring Networks Inc Just Recorded A Sigfniciant Decline

Price Action To Observe: Silver Spring Networks Inc Just Recorded A Sigfniciant Decline

The stock of Silver Spring Networks Inc (NYSE:SSNI) is a huge mover today! About 329,885 shares traded hands or 58.62% up from the average. Silver Spring Networks Inc (NYSE:SSNI) has risen 2.59% since April 27, 2016 and is uptrending. It has underperformed by 2.64% the S&P500.
The move comes after 9 months negative chart setup for the $723.93 million company. It was reported on Nov, 30 by Barchart.com. We have $13.40 PT which if reached, will make NYSE:SSNI worth $28.96M less.

Analysts await Silver Spring Networks Inc (NYSE:SSNI) to report earnings on February, 21. They expect $-0.12 EPS, down 1,100.00% or $0.11 from last year’s $-0.01 per share. After $-0.02 actual EPS reported by Silver Spring Networks Inc for the previous quarter, Wall Street now forecasts 500.00% negative EPS growth.

Silver Spring Networks Inc (NYSE:SSNI) Ratings Coverage

Out of 8 analysts covering Silver Spring Networks (NYSE:SSNI), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Silver Spring Networks has been the topic of 13 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Wunderlich given on Wednesday, September 28. As per Tuesday, February 9, the company rating was maintained by Wunderlich. FBR Capital initiated the shares of SSNI in a report on Tuesday, November 8 with “Outperform” rating. The rating was initiated by Williams Capital Group with “Buy” on Monday, November 28. As per Monday, September 7, the company rating was upgraded by Pacific Crest. The stock of Silver Spring Networks Inc (NYSE:SSNI) earned “Buy” rating by Wunderlich on Thursday, December 3. The firm has “Overweight” rating given on Tuesday, September 8 by KeyBanc Capital Markets. The stock has “Outperform” rating given by Oppenheimer on Friday, September 11. The firm has “Strong Buy” rating given on Thursday, June 30 by Raymond James.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.26 in Q2 2016. Its down 0.79, from 2.05 in 2016Q1. The ratio dived, as 17 funds sold all Silver Spring Networks Inc shares owned while 24 reduced positions. 27 funds bought stakes while 57 increased positions. They now own 38.38 million shares or 0.26% less from 38.48 million shares in 2016Q1.
Frontier Mngmt Lc has 0.1% invested in the company for 1.02M shares. Globeflex Cap Ltd Partnership, a California-based fund reported 19,339 shares. Citigroup last reported 4,034 shares in the company. Trexquant L P holds 0.08% or 50,295 shares in its portfolio. Allianz Asset Mgmt Ag has invested 0% of its portfolio in Silver Spring Networks Inc (NYSE:SSNI). Electron Capital Limited Co accumulated 439,250 shares or 1.32% of the stock. Blackrock last reported 0% of its portfolio in the stock. Friedberg Investment Mngmt holds 70,750 shares or 0.41% of its portfolio. Rhumbline Advisers reported 36,482 shares or 0% of all its holdings. Schwab Charles Investment Management has 0% invested in the company for 123,175 shares. Sei, a Pennsylvania-based fund reported 6,278 shares. Moreover, Bank Of New York Mellon Corporation has 0% invested in Silver Spring Networks Inc (NYSE:SSNI) for 1.08 million shares. The Colorado-based Arrowpoint Asset Mngmt Ltd Liability Company has invested 0.15% in Silver Spring Networks Inc (NYSE:SSNI). Tudor Investment Corp Et Al, a Connecticut-based fund reported 19,200 shares. Us National Bank De owns 6,422 shares or 0% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 6 selling transactions for $830,155 net activity. Arnold Richard S. Jr. had sold 8,621 shares worth $128,453. Shares for $71,806 were sold by Reeves Donald L. III. Shares for $582,821 were sold by Weiss Warren M on Tuesday, November 15. 144,542 shares were sold by Lang Scott A., worth $1.92 million on Friday, June 3. The insider Gianella Kenneth P. sold 682 shares worth $9,821.

More important recent Silver Spring Networks Inc (NYSE:SSNI) news were published by: Wsj.com which released: “Former Intel Gadget Specialist to Head Silver Spring Networks” on September 02, 2015, also Fool.com published article titled: “What Investors Need to Know About Silver Spring Networks, Inc.’s Q3 Earnings”, Benzinga.com published: “Recent M&A, Backlog Strength Encouraging Signs For Silver Spring Networks” on October 07, 2016. More interesting news about Silver Spring Networks Inc (NYSE:SSNI) was released by: Businesswire.com and their article: “Entergy Corporation Selects Silver Spring Networks for Smart Grid Program” with publication date: October 06, 2016.

SSNI Company Profile

Silver Spring Networks, Inc., incorporated on July 3, 2002, is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Firm provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. The Company’s networking platform enables clients to communicate with devices connected to the power grid. The Company’s networking platform comprises hardware, such as access points and relays; its SilverLinkOS network operating software, and its GridScape management and security software. The Firm offers an array of solutions built upon SilverLink Network and Data platforms, including advanced metering, distribution automation, demand-side management, street lights and wireless Internet protocol version 6 (IPv6) network service for the IoT, Starfish.

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