Silver Spike Investment (NASDAQ:SSIC) Stock Price Up 2%

Shares of Silver Spike Investment Corp. (NASDAQ:SSICGet Rating) rose 2% during mid-day trading on Thursday . The company traded as high as $10.50 and last traded at $10.26. Approximately 254 shares were traded during trading, a decline of 81% from the average daily volume of 1,303 shares. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on Silver Spike Investment from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 19th.

Silver Spike Investment Stock Up 2.0 %

The stock has a 50 day moving average price of $10.16 and a 200 day moving average price of $9.86.

Institutional Trading of Silver Spike Investment

A number of hedge funds and other institutional investors have recently modified their holdings of SSIC. Penserra Capital Management LLC bought a new stake in shares of Silver Spike Investment in the 1st quarter worth $1,462,000. Jacobs Asset Management LLC bought a new stake in shares of Silver Spike Investment in the 1st quarter worth $2,365,000. Finally, Graticule Asia Macro Advisors LLC bought a new stake in shares of Silver Spike Investment in the 1st quarter worth $4,750,000. Institutional investors own 5.82% of the company’s stock.

Silver Spike Investment Company Profile

(Get Rating)

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.

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