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

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SilverSun Technologies Inc (NASDAQ:SSNT) was the target of a large 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. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 8,900 shares, the days-to-cover ratio is currently 0.5 days.

SSNT has been the topic of a number of recent analyst reports. ValuEngine raised shares of SilverSun Technologies from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. TheStreet cut shares of SilverSun Technologies from a “c” rating to a “d+” rating in a research note on Tuesday, December 3rd.

Shares of NASDAQ:SSNT traded down $0.10 on Thursday, reaching $2.00. 14,900 shares of the company were exchanged, compared to its average volume of 21,739. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. SilverSun Technologies has a 1-year low of $1.62 and a 1-year high of $8.25. The firm has a market cap of $9.04 million, a price-to-earnings ratio of 1.06 and a beta of 0.58. The company has a 50-day moving average of $2.75 and a 200-day moving average of $3.36.

An institutional investor recently raised its position in SilverSun Technologies stock. Weber Alan W boosted its holdings in SilverSun Technologies Inc (NASDAQ:SSNT) by 278.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 95,275 shares of the company’s stock after buying an additional 70,106 shares during the period. Weber Alan W owned approximately 2.12% of SilverSun Technologies worth $414,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.31% of the company’s stock.

SilverSun Technologies Company Profile

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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