Itron to buy Silver Spring for $830 mln

Itron to buy Silver Spring for $830 mln”

Its down 13.12% from 3.03M shares previously. With 308,300 avg volume, 2 days are for TRIANGLE PETROLEUM CORPORATION (OTCMKTS:TPLM)'s short sellers to cover TPLM's short positions. About 258,953 shares traded. It has underperformed by 16.70% the S&P500. Silver Spring Networks presently has a consensus rating of "Hold" and an average target price of $14.23. The 9 months bullish chart indicates low risk for the $862.94M company. It was reported on Sep, 18 by (NASDAQ:BLDP). At the time of writing, the First Call consensus price target for the company is $3.30. Trading volume was up 90.86% over the stocks average daily volume.

Among 14 analysts covering Silver Spring Networks (NYSE:SSNI), 8 have Buy rating, 0 Sell and 6 Hold. Therefore 57% are positive. As per Tuesday, September 8, the company rating was upgraded by KeyBanc Capital Markets. The stock has "Mkt Outperform" rating by JMP Securities on Friday, January 13. Bank & Trust Of Montreal Can holds 0% or 2,080 shares in its portfolio. They set a "buy" rating and a $13.00 price target on the stock. The rating was maintained by Wunderlich with "Buy" on Tuesday, February 9.

Several equities research analysts have weighed in on SSNI shares. The firm earned "Strong Buy" rating on Thursday, June 30 by Raymond James.

Since April 6, 2017, it had 0 insider buys, and 3 selling transactions for $785,266 activity. Vaswani Raj sold $281,220 worth of stock.

Investors sentiment increased to 1.41 in Q4 2016. Its down 0.21, from 1.28 in 2016Q3.

Silver Spring offers Internet of things platforms for utilities and cities. The value of the position overall is down by 44.1%. Spark Limited Company stated it has 89,900 shares or 0.1% of all its holdings.

Silver Spring Networks Inc (NYSE:SSNI)'s stock had its "outperform" rating reiterated by stock analysts at FBR & Co in a research report issued to clients and investors on Tuesday. The company recorded a fall in short interest from August 15, 2017 to August 31, 2017 of -13.12%. Prudential Fincl reported 83,220 shares. Northcoast Asset Mngmt Ltd Llc holds 438,786 shares. Daiwa Sb reported 0.18% of its portfolio in Silver Spring Networks Inc (NYSE:SSNI). Gilder Gagnon Howe And Lc has 411,126 shares for 0.11% of their portfolio. Ardsley Advisory Prtnrs owns 0.49% invested in Silver Spring Networks Inc (NYSE:SSNI) for 224,000 shares.

More specifically, Itron will acquire Silver Spring Networks in a $16.25-per-share cash deal valued at roughly $830 million, net of Silver Spring's $118 million in cash. Friedberg Investment Mngmt holds 0.37% or 60,350 shares. American International Group Inc. increased its holdings in Silver Spring Networks by 7.1% during the 1st quarter. Natixis holds 67,291 shares.

"The addition of Silver Spring brings more capabilities to our offerings and advances our strategy of delivering highly secure, value-generating solutions for the critical infrastructure within utilities, smart cities and the broader industrial IoT sector", Itron CEO Philip Mezey said in a statement. The firm's market capitalization is $696.35 million. It now has negative earnings. The company has sold more than 26.7 million internet and network-enabled devices around the world. After a recent check, it is observed that the insiders for the firm now own 2.80% shares. After $-0.07 actual earnings per share reported by Silver Spring Networks Inc for the previous quarter, Wall Street now forecasts 28.57 % negative EPS growth. The stock increased 0.05% or $0.07 on September 15, reaching $149.99.

Itron also expects to generate roughly $50 million in annualized cost synergies within three years of completing the deal, noting that it will be accretive to both adjusted earnings per share and adjusted EBITDA by 2019. First Lp holds 0% or 98,049 shares. Moreover, Blackrock Incorporated has 0% invested in Yelp Inc (NYSE:YELP) for 72,489 shares. 10,248 were reported by Ameriprise Fincl. California Public Employees Retirement Systems accumulated 0% or 539,300 shares. Meru Capital Gp Lp invested in 1.7% or 160,000 shares. Manufacturers Life The has invested 0% in Triangle Petroleum Corporation (OTCMKTS:TPLM). 170,300 were reported by Highland Cap Mgmt Ltd Partnership.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Commonwealth Equity Svcs Inc stated it has 10,850 shares or 0% of all its holdings.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Like this


19 September 2017
Geneva Police Confiscate Euro Bills Clogging Up Toilets
The cash was confiscated during the investigation and it was unclear who would get it if it was found to be lawful. In U.S. dollars, the bills were worth about $600 each and totaled tens of thousands of dollars, the BBC reported .

19 September 2017
Sean Dyche expects Burnley to maintain their level against Leeds
But Dallas is only focusing on Leeds - not Burnley's new star striker. "I do believe in the group", he told reporters. I believe in the players wholeheartedly.

19 September 2017
Bayern Munich goalkeeper Manuel Neuer 'breaks foot in training'
Early reports suggest that the 31-year-old has damaged a bone in the same foot that he broke last season. Whatever the scenario, Neuer is expected to be out for another months-long rehabilitation.

19 September 2017
City target Milinkovic-Savic has suitors 'in Madrid, Manchester and Milan'
Sergej Milinkovic-Savic could be on the move next year as agent Mateja Kezman has revealed there is interest in the Lazio midfielder from clubs "in Madrid, Manchester and Milan".

19 September 2017
Sebi allows REITs, InvITs to raise funds via debt securities
Thus a REIT mandate to hold at least 51 per cent in underlying SPV would rule out inclusion of assets which are held as 50-50 JV. The regulator may do away with the requirements of at least two assets and the percentage restrictions on a single assets.

19 September 2017
France wary of Serbia despite Djokovic absence
However, the duo eased through in the tiebreak and are now closing in on an 18th Davis Cup final for France. Arthur de Greef and Ruben Bemelmans will team up against John Peers and Jordan Thompson in doubles.

19 September 2017
Three goals, five games: Spurs 'scouting former Newcastle Utd target Cenk Tosun'
Spurs have reportedly sent scouts to track the progress of Besiktas forward Cenk Tosun ahead of the January transfer window. The 26-year-old was the subject of offers from Crystal Palace and Newcastle at the end of the transfer window.

19 September 2017
Chicago Born Actress Lena Waithe Makes History With Emmy Win
Glover also broke a four-year streak of female directors taking home the award for Outstanding Directing for a Comedy Series . Click through the slideshow below to take in the best of the best hair and beauty looks from the 2017 Emmys .

19 September 2017
Last-Second Missed Field Goal Leads Chargers Home Opener Loss to Dolphins
The kick sailed wide right, although the Chargers Cannon was sacked off in celebration as its operator thought the kick was good. The Dolphins were playing for the first time since August 31 when they defeated the Minnesota Vikings 30-9 in a preseason game.

18 September 2017
Intel collaborates with Waymo on self-driving compute design
Waymo has prided itself on designing every aspect of its self-driving vehicles , particularly their eyes, ears, and brains. Level 4 autonomy is a designation by the SAE that means the vehicle takes over all of the driving in certain conditions.