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

Silver Spike Investment Corp. (NASDAQ:SSIC) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 31,200 shares, a growth of 164.4% from the May 31st total of 11,800 shares. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.8% of the company’s shares are sold short.

Silver Spike Investment Stock Up 1.0 %

Silver Spike Investment stock traded up $0.12 during midday trading on Friday, reaching $11.82. The stock had a trading volume of 6,956 shares, compared to its average volume of 14,400. Silver Spike Investment has a 52-week low of $7.29 and a 52-week high of $12.45. The firm has a market cap of $73.40 million, a price-to-earnings ratio of 13.59 and a beta of 0.28. The company has a fifty day moving average of $11.44 and a 200 day moving average of $9.87.

Silver Spike Investment (NASDAQ:SSIC) last posted its quarterly earnings data 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 firm had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $2.38 million. During the same period last year, the company earned $0.22 earnings per share. Equities research analysts predict that Silver Spike Investment will post 0.63 EPS for the current year.

Silver Spike Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.46%. The ex-dividend date is Thursday, June 20th. Silver Spike Investment’s dividend payout ratio (DPR) is presently 114.94%.

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 its most recent filing with the Securities & Exchange Commission. The firm acquired 12,446 shares of the company’s stock, valued at approximately $120,000. O Shaughnessy Asset Management LLC owned approximately 0.20% of Silver Spike Investment as of its most recent filing with the Securities & Exchange Commission. 4.36% of the stock is currently owned by hedge funds and other institutional investors.

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.