SilverSun Technologies Inc. (NASDAQ: SSNT) stock jumped 17.57% on Friday to $3.68 against a previous-day closing price of $3.13. With 1.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 36580.0 shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $4.2000 whereas the lowest price it dropped to was $3.0400. The 52-week range on SSNT shows that it touched its highest point at $9.60 and its lowest point at $2.28 during that stretch. Beta for the stock currently stands at 1.32.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SSNT was up-trending over the past week, with a rise of 27.78%, but this was up by 22.26% over a month. Three-month performance surged to 46.61% while six-month performance rose 11.18%. The stock lost -54.23% in the past year, while it has lost -17.67% so far this year.
Float and Shares Shorts:
At present, 5.14 million SSNT shares are outstanding with a float of 3.28 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4780.0, which was 0.09% higher than short shares on Jun 14, 2022. In addition to Mr. Mark Meller as the firm’s Chairman, Pres & CEO, Mr. Joseph P. Macaluso serves as its Chief Financial Officer.
Through their ownership of 13.35% of SSNT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 51.67% of SSNT, in contrast to 3.21% held by mutual funds. Shares owned by individuals account for 10.14%. As the largest shareholder in SSNT with 4.23% of the stake, Bard Associates, Inc. holds 217,263 shares worth 217,263. A second-largest stockholder of SSNT, The Vanguard Group, Inc., holds 144,330 shares, controlling over 2.81% of the firm’s shares. Acadian Asset Management LLC is the third largest shareholder in SSNT, holding 130,883 shares or 2.55% stake. With a 1.94% stake in SSNT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 99,500 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.87% of SSNT stock, is the second-largest Mutual Fund holder. It holds 44,830 shares valued at 0.12 million. Fidelity Extended Market Index Fu holds 0.33% of the stake in SSNT, owning 17,012 shares worth 46103.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, SSNT reported revenue of $11.02M and operating income of -$19.72k. Over the past year, revenue came in at $41.85M while operating income stood at -$743.98k. It generated -$40.66k net income for the quarter, which came to -$529.77k over the last twelve months. The EBITDA in the recently reported quarter was $629.93k and diluted EPS was -$0.01. EBITDA for the full year was $973.89k.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SSNT since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SSNT analysts setting a high price target of $5.00 and a low target of $5.00, the average target price over the next 12 months is $5.00. Based on these targets, SSNT could surge 35.87% to reach the target high and rise by 35.87% to reach the target low. Reaching the average price target will result in a growth of 35.87% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SSNT will report FY 2018 earnings on 03/30/2023. Analysts have provided yearly estimates in a range of $0.09 being high and $0.09 being low. For SSNT, this leads to a yearly average estimate of $0.09. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Based on analyst estimates, the high estimate for the next quarter is $0.03 and the low estimate is $0.03. The average estimate for the next quarter is thus $0.03.
Summary of Insider Activity:
Insiders traded SSNT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 1,642,000 while 1,972,000 shares were sold.