Silver Spike Investment Corp. (NASDAQ:SSIC) Sees Large Increase in Short Interest

Silver Spike Investment Corp. (NASDAQ:SSIC) was the recipient of a large 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. Based on an average trading volume of 14,700 shares, the short-interest ratio is currently 2.1 days. Currently, 1.8% of the shares of the company are short sold.

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 acquired a new position in shares of Silver Spike Investment Corp. (NASDAQ:SSIC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter. 4.36% of the stock is owned by hedge funds and other institutional investors.

Silver Spike Investment Stock Performance

Shares of NASDAQ:SSIC traded up $0.12 during midday trading on Friday, hitting $11.82. The company’s stock had a trading volume of 6,956 shares, compared to its average volume of 14,400. The stock’s 50 day simple moving average is $11.44 and its 200 day simple moving average is $9.87. The stock has a market capitalization of $73.40 million, a price-to-earnings ratio of 13.45 and a beta of 0.28. Silver Spike Investment has a fifty-two week low of $7.29 and a fifty-two 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) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The business had revenue of $2.76 million for the quarter, compared to analyst estimates of $2.38 million. Silver Spike Investment had a return on equity of 5.96% and a net margin of 44.98%. During the same quarter last year, the firm earned $0.22 earnings per share. As a group, analysts anticipate that Silver Spike Investment will post 0.63 EPS for the current year.

Silver Spike Investment Announces Dividend

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 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 of this dividend is Thursday, June 20th. Silver Spike Investment’s dividend payout ratio is currently 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.