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Silver Spring Networks (SSNI) Catches Eye: Stock Jumps 23.9%

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Silver Spring Networks, Inc. was a big mover last session, as the company saw its shares rise nearly 24% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $12.54 to $13.17 in the past one month time frame.

The stock gained after the company received a buyout bid from Itron, Inc. in a deal worth $830 million

The company has seen three negative estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Silver Spring Networks currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.  

A better-ranked stock in the Computer - Networking industry is Digi International Inc. (DGII - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is SSNI going up? Or down? Predict to see what others think: Up or Down

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