SilverSun Technologies Inc (NASDAQ:SSNT) Sees Large Increase in Short Interest

SilverSun Technologies Inc (NASDAQ:SSNT) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 4,100 shares, an increase of 156.3% from the February 27th total of 1,600 shares. Based on an average daily volume of 8,900 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

Shares of NASDAQ:SSNT traded down $0.10 during midday trading on Thursday, hitting $2.00. The company’s stock had a trading volume of 14,900 shares, compared to its average volume of 21,739. The business’s 50 day simple moving average is $2.75 and its 200 day simple moving average is $3.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $9.04 million, a P/E ratio of 1.06 and a beta of 0.58. SilverSun Technologies has a 12-month low of $1.62 and a 12-month high of $8.25.

A hedge fund recently bought a new stake in SilverSun Technologies stock. Virtu Financial LLC purchased a new position in SilverSun Technologies Inc (NASDAQ:SSNT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,758 shares of the company’s stock, valued at approximately $38,000. Virtu Financial LLC owned approximately 0.24% of SilverSun Technologies at the end of the most recent quarter. Hedge funds and other institutional investors own 8.31% of the company’s stock.

Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of SilverSun Technologies from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. TheStreet lowered shares of SilverSun Technologies from a “c” rating to a “d+” rating in a research report on Tuesday, December 3rd.

About SilverSun Technologies

SilverSun Technologies, Inc operates as a business application, technology, and consulting company. The company resells enterprise resource planning software for the financial accounting requirements, as well as offers training, technical support, and professional services. The company also publishes and markets MAPADOC, an electronic data interchange software through a network of resellers.

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