Silver Spring Networks Inc (SSNI) was Upgraded by Raymond James to ” Strong Buy”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jun 30, 2016.
On the company’s financial health, Silver Spring Networks Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.05. The company had revenue of $68.90 million for the quarter, compared to analysts expectations of $66.08 million. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.
Silver Spring Networks Inc closed down -0.01 points or -0.09% at $10.76 with 1,92,322 shares getting traded on Wednesday. Post opening the session at $11.02, the shares hit an intraday low of $10.69 and an intraday high of $11.11 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 7, 2016, Scott A. Lang (Board Chair; ExecutiveChairman) sold 144,542 shares at $13.30 per share price. According to the SEC, on May 25, 2016, Richard S. Jr. Arnold (General Counsel & Secretary) sold 7,833 shares at $13.19 per share price. On May 19, 2016, Raj Vaswani (Chief Technology Officer) sold 458 shares at $12.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Silver Spring Networks Inc. is engaged in creating building and deploying large scale networks and solutions enabling the Internet of things for critical infrastructure. The Company provides a networking platform and solutions. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises its hardware such as access points and relays its UtilOS network operating software and its GridScape management and security software. Its SilverLink Sensor Network helps customers use the data generated by devices on the network in order to provide insights for decision-making. Its solutions include advanced metering distribution automation demand-side management and street lights. Its services include professional services managed services and software as a service (SaaS) and customer support.