Silver Spike Investment Corp. (NASDAQ:SSIC) Short Interest Up 164.4% in June

Silver Spike Investment Corp. (NASDAQ:SSIC) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 31,200 shares, an increase of 164.4% from the May 31st total of 11,800 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 14,700 shares, the short-interest ratio is presently 2.1 days.

Silver Spike Investment Price Performance

Shares of SSIC traded up $0.12 during mid-day trading on Friday, reaching $11.82. 6,956 shares of the company’s stock were exchanged, compared to its average volume of 14,400. The stock has a market capitalization of $73.40 million, a PE ratio of 13.59 and a beta of 0.28. The business’s fifty day simple moving average is $11.44 and its 200-day simple moving average is $9.87. Silver Spike Investment has a 52-week low of $7.29 and a 52-week high of $12.45.

Silver Spike Investment (NASDAQ:SSIC) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.76 million for the quarter, compared to analyst estimates of $2.38 million. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts predict that Silver Spike Investment will post 0.63 earnings per share for the current year.

Silver Spike Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.46%. The ex-dividend date of this dividend is Thursday, June 20th. Silver Spike Investment’s dividend payout ratio is presently 114.94%.

Institutional Investors Weigh In On Silver Spike Investment

An institutional investor recently bought a new position in Silver Spike Investment stock. O Shaughnessy Asset Management LLC purchased a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned 0.20% of Silver Spike Investment at the end of the most recent reporting period. Institutional investors and hedge funds own 4.36% of the company’s stock.

Silver Spike Investment Company Profile

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.