Silver Spring Networks, Inc. (SSNI) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of Silver Spring Networks, Inc. (NYSE:SSNI) in a report issued on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $13.00 target price on the technology company’s stock.

SSNI has been the subject of a number of other reports. Williams Capital lowered shares of Silver Spring Networks from a buy rating to a hold rating and set a $11.00 price objective for the company. in a report on Monday, March 13th. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $14.00 price target (down from $17.00) on shares of Silver Spring Networks in a report on Friday, May 12th. Williams Financial Group lowered shares of Silver Spring Networks from a buy rating to a hold rating in a report on Monday, March 13th. Robert W. Baird lowered their price target 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. Finally, FBR & Co set a $17.00 price target on shares of Silver Spring Networks and gave the company a buy rating in a report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $14.54.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Silver Spring Networks (NYSE:SSNI) opened at 11.54 on Tuesday. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $15.40. The firm has a 50-day moving average of $10.47 and a 200 day moving average of $11.81. The firm’s market capitalization is $613.60 million.

COPYRIGHT VIOLATION NOTICE: “Silver Spring Networks, Inc. (SSNI) Research Coverage Started at Guggenheim” was published by sleekmoney and is owned by of sleekmoney. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://sleekmoney.com/silver-spring-networks-inc-ssni-research-coverage-started-at-guggenheim/1933629.html.

In other Silver Spring Networks news, insider Raj Vaswani sold 29,826 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $9.87, for a total transaction of $294,382.62. Following the transaction, the insider now directly owns 611,947 shares of the company’s stock, valued at approximately $6,039,916.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 75,968 shares of company stock worth $785,370. Insiders own 29.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SSNI. Neuberger Berman Group LLC increased its position in shares of Silver Spring Networks by 50.0% in the first quarter. Neuberger Berman Group LLC now owns 2,694,396 shares of the technology company’s stock worth $30,420,000 after buying an additional 898,466 shares during the last quarter. Rothschild Asset Management Inc. bought a new position in shares of Silver Spring Networks during the first quarter worth about $8,829,000. Trigran Investments Inc. bought a new position in shares of Silver Spring Networks during the first quarter worth about $5,697,000. Bank of New York Mellon Corp increased its position in shares of Silver Spring Networks by 28.0% in the first quarter. Bank of New York Mellon Corp now owns 1,405,450 shares of the technology company’s stock worth $15,868,000 after buying an additional 307,866 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Silver Spring Networks by 360.1% in the first quarter. Wellington Management Group LLP now owns 266,482 shares of the technology company’s stock worth $3,008,000 after buying an additional 208,567 shares during the last quarter. 75.57% of the stock is currently owned by institutional investors and hedge funds.

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.

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/silver-spring-networks-inc-ssni-research-coverage-started-at-guggenheim/1933629.html

Receive News & Ratings for Silver Spring Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Spring Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *