Silver Spring Networks, Inc. (NYSE:SSNI) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

Other analysts also recently issued research reports about the stock. Cowen and Company reissued a “buy” rating and issued a $16.00 price objective on shares of Silver Spring Networks in a research note on Tuesday, September 12th. FBR & Co reissued a “buy” rating on shares of Silver Spring Networks in a research note on Monday, September 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $14.00 price objective on shares of Silver Spring Networks in a research note on Monday, September 18th. Zacks Investment Research raised shares of Silver Spring Networks from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Canaccord Genuity raised their target price on shares of Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. Silver Spring Networks presently has an average rating of “Hold” and an average target price of $14.95.

Shares of Silver Spring Networks (SSNI) opened at $16.12 on Friday. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $16.24.

TRADEMARK VIOLATION NOTICE: “BidaskClub Downgrades Silver Spring Networks, Inc. (SSNI) to Strong Sell” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/11/12/bidaskclub-downgrades-silver-spring-networks-inc-ssni-to-strong-sell.html.

In related news, insider Raj Vaswani sold 15,687 shares of Silver Spring Networks stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $12.89, for a total transaction of $202,205.43. Following the transaction, the insider now directly owns 648,724 shares of the company’s stock, valued at $8,362,052.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donald L. Reeves III sold 30,579 shares of Silver Spring Networks stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.15, for a total transaction of $493,850.85. Following the transaction, the insider now directly owns 32,260 shares in the company, valued at $520,999. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,645 shares of company stock worth $1,617,370. 29.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its holdings in Silver Spring Networks by 7.3% during the second quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock valued at $32,626,000 after buying an additional 197,957 shares during the period. Vanguard Group Inc. grew its holdings in Silver Spring Networks by 7.6% in the second quarter. Vanguard Group Inc. now owns 1,742,571 shares of the technology company’s stock worth $19,656,000 after purchasing an additional 123,420 shares during the last quarter. Trigran Investments Inc. grew its holdings in Silver Spring Networks by 188.4% in the second quarter. Trigran Investments Inc. now owns 1,455,386 shares of the technology company’s stock worth $16,417,000 after purchasing an additional 950,763 shares during the last quarter. Ardsley Advisory Partners grew its holdings in Silver Spring Networks by 232.6% in the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock worth $14,264,000 after purchasing an additional 884,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Silver Spring Networks by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 886,065 shares of the technology company’s stock worth $10,004,000 after purchasing an additional 112,428 shares during the last quarter. 76.15% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

Receive News & Stock 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 stocks with our FREE daily email newsletter.