Silver Spring Networks, Inc. (SSNI) was a big mover last session, as the company saw its shares soar over 15% on the day. Shares gained after the company announced better-than-expected earnings as well as revenues for the second quarter of 2015. The news led to far more shares changing hands than in a normal session resulting in solid volume. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $2.00 to $3.00 in the past one-month time frame.
None of the estimates for this computer – networks stock were revised over the past 30 days. The Zacks Consensus Estimate however moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Silver Spring Networks currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is Infinera Corporation (INFN), carrying a Zacks Rank #2 (Buy).
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