Silver Spring Networks, Inc. (NYSE:SSNI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “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. “

Other equities research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. set a $17.00 target price on Silver Spring Networks and gave the company a “buy” rating in a research report on Saturday, April 1st. FBR & Co set a $16.00 target price on Silver Spring Networks and gave the company a “buy” rating in a research report on Saturday, May 13th. Robert W. Baird reissued a “neutral” rating and issued a $9.00 target price (down previously from $11.00) on shares of Silver Spring Networks in a research report on Thursday, May 11th. Pacific Crest lowered Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, May 10th. Finally, BidaskClub lowered Silver Spring Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.42.

Shares of Silver Spring Networks (NYSE SSNI) opened at 10.50 on Thursday. The company’s market cap is $558.31 million. The company has a 50 day moving average price of $10.47 and a 200 day moving average price of $11.74. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $15.40.

TRADEMARK VIOLATION WARNING: “Silver Spring Networks, Inc. (SSNI) Rating Increased to Hold at Zacks Investment Research” was published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/07/17/silver-spring-networks-inc-ssni-rating-increased-to-hold-at-zacks-investment-research.html.

In other Silver Spring Networks news, insider Raj Vaswani sold 14,272 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $10.48, for a total value of $149,570.56. Following the completion of the transaction, the insider now directly owns 596,393 shares in the company, valued at $6,250,198.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 64,462 shares of company stock valued at $653,702. Corporate insiders own 29.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC increased its position in Silver Spring Networks by 403.2% in the first quarter. Global X Management Co. LLC now owns 15,810 shares of the technology company’s stock worth $178,000 after buying an additional 12,668 shares in the last quarter. Two Sigma Investments LP bought a new position in Silver Spring Networks during the fourth quarter worth $257,000. US Bancorp DE increased its position in Silver Spring Networks by 46.7% in the first quarter. US Bancorp DE now owns 19,576 shares of the technology company’s stock worth $221,000 after buying an additional 6,235 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Silver Spring Networks by 106.2% in the first quarter. UBS Asset Management Americas Inc. now owns 21,036 shares of the technology company’s stock worth $237,000 after buying an additional 10,836 shares in the last quarter. Finally, American International Group Inc. increased its position in Silver Spring Networks by 7.1% in the first quarter. American International Group Inc. now owns 23,335 shares of the technology company’s stock worth $263,000 after buying an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors own 76.33% of the company’s stock.

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.

Get a free copy of the Zacks research report on Silver Spring Networks (SSNI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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.