Silver Spike Investment Corp. (NASDAQ:SSIC – Get Rating) shares dropped 1.5% on Friday . The company traded as low as $10.10 and last traded at $10.10. Approximately 1,213 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 8,775 shares. The stock had previously closed at $10.25.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler cut their price objective on shares of Silver Spike Investment from $17.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, August 19th.
Get Silver Spike Investment alerts:Silver Spike Investment Price Performance
The company's 50-day moving average price is $10.22 and its 200-day moving average price is $9.86.
Silver Spike Investment (NASDAQ:SSIC – Get Rating) last announced its earnings results on Thursday, November 10th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.32 million. Sell-side analysts forecast that Silver Spike Investment Corp. will post 0.54 EPS for the current year.Hedge Funds Weigh In On Silver Spike Investment
Several institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in shares of Silver Spike Investment in the 1st quarter valued at approximately $1,462,000. Jacobs Asset Management LLC purchased a new stake in Silver Spike Investment during the 1st quarter worth approximately $2,365,000. Finally, Graticule Asia Macro Advisors LLC purchased a new stake in Silver Spike Investment during the 1st quarter worth approximately $4,750,000. 5.82% of the stock is currently owned by institutional investors and hedge funds.
Silver Spike Investment Company Profile
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Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies.
Further Reading
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