Silver Spike Investment (NASDAQ:SSIC) Shares Down 4.5%

Silver Spike Investment Corp. (NASDAQ:SSIC – Get Rating) dropped 4.5% during mid-day trading on Thursday . The company traded as low as $7.78 and last traded at $7.80. Approximately 74,671 shares traded hands during trading, an increase of 554% from the average daily volume of 11,416 shares. The stock had previously closed at $8.17.

SSIC has been the topic of a number of analyst reports. Stifel Nicolaus initiated coverage on Silver Spike Investment in a research report on Tuesday, March 1st. They set a “hold” rating and a $14.00 target price on the stock. Piper Sandler initiated coverage on Silver Spike Investment in a research report on Tuesday, March 1st. They set an “overweight” rating and a $17.00 target price on the stock.

The company’s fifty day moving average is $10.16.

Several large investors have recently bought and sold shares of SSIC. Penserra Capital Management LLC acquired a new position in shares of Silver Spike Investment during the first quarter worth approximately $1,462,000. Jacobs Asset Management LLC acquired a new position in shares of Silver Spike Investment during the first quarter worth approximately $2,365,000. Finally, Graticule Asia Macro Advisors LLC acquired a new position in shares of Silver Spike Investment during the first quarter worth approximately $4,750,000.

Silver Spike Investment Company Profile (NASDAQ:SSIC)

Silver Spike Investment Corp., 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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