Short Interest in Silver Spike Investment Corp. (NASDAQ:SSIC) Decreases By 32.2%

Silver Spike Investment Corp. (NASDAQ:SSIC) was the recipient of a significant drop in short interest in May. As of May 31st, there was short interest totalling 11,800 shares, a drop of 32.2% from the May 15th total of 17,400 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 13,500 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On Silver Spike Investment

A hedge fund recently bought a new stake in Silver Spike Investment stock. O Shaughnessy Asset Management LLC acquired a new stake in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned about 0.20% of Silver Spike Investment as of its most recent SEC filing. Hedge funds and other institutional investors own 4.36% of the company’s stock.

Silver Spike Investment Trading Up 1.3 %

SSIC traded up $0.15 during trading hours on Friday, hitting $11.85. The company’s stock had a trading volume of 24,090 shares, compared to its average volume of 10,040. The stock has a market cap of $73.59 million, a price-to-earnings ratio of 13.62 and a beta of 0.28. The business’s 50-day moving average price is $11.11 and its 200-day moving average price is $9.72. Silver Spike Investment has a 12 month low of $7.29 and a 12 month high of $11.89.

Silver Spike Investment (NASDAQ:SSIC) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Silver Spike Investment had a return on equity of 5.96% and a net margin of 44.98%. The business had revenue of $2.76 million during the quarter, compared to the consensus estimate of $2.38 million. During the same quarter last year, the firm earned $0.22 earnings per share. On average, analysts forecast that Silver Spike Investment will post 0.63 earnings per share for the current year.

Silver Spike Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend is Thursday, June 20th. Silver Spike Investment’s payout ratio is 114.94%.

About Silver Spike Investment

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.