Short Interest in SilverSun Technologies, Inc. (NASDAQ:SSNT) Drops By 62.8%

SilverSun Technologies, Inc. (NASDAQ:SSNT) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 5,400 shares, a drop of 62.8% from the December 15th total of 14,500 shares. Based on an average daily volume of 695,500 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.3% of the shares of the company are short sold.

In related news, major shareholder Ault Global Holdings, Inc. acquired 9,900 shares of the firm’s stock in a transaction that occurred on Monday, October 25th. The stock was purchased at an average cost of $5.31 per share, with a total value of $52,569.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 40.13% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SSNT. Vanguard Group Inc. raised its position in SilverSun Technologies by 395.2% during the 2nd quarter. Vanguard Group Inc. now owns 134,310 shares of the company’s stock worth $1,635,000 after buying an additional 107,190 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of SilverSun Technologies by 399.4% during the 2nd quarter. Citadel Advisors LLC now owns 71,106 shares of the company’s stock worth $865,000 after purchasing an additional 56,868 shares during the period. Renaissance Technologies LLC grew its stake in SilverSun Technologies by 165.5% in the 3rd quarter. Renaissance Technologies LLC now owns 87,082 shares of the company’s stock valued at $529,000 after acquiring an additional 54,282 shares during the period. Two Sigma Advisers LP grew its stake in SilverSun Technologies by 83.8% in the 3rd quarter. Two Sigma Advisers LP now owns 42,100 shares of the company’s stock valued at $256,000 after acquiring an additional 19,200 shares during the period. Finally, Two Sigma Investments LP grew its stake in SilverSun Technologies by 123.9% in the 3rd quarter. Two Sigma Investments LP now owns 23,286 shares of the company’s stock valued at $141,000 after acquiring an additional 12,886 shares during the period. 23.89% of the stock is owned by institutional investors.

Shares of SilverSun Technologies stock opened at $4.28 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $4.83 and a 200 day moving average price of $6.94. SilverSun Technologies has a 52 week low of $3.30 and a 52 week high of $14.87.

SilverSun Technologies (NASDAQ:SSNT) last announced its quarterly earnings data on Tuesday, November 9th. The company reported ($0.05) EPS for the quarter. The company had revenue of $10.11 million during the quarter. SilverSun Technologies had a net margin of 1.47% and a return on equity of 6.09%.

SilverSun Technologies Company Profile

SilverSun Technologies, Inc is a business application, technology and consulting company. It is engaged in providing transformative business management solutions, technologies and professional consulting services to small and medium-sized businesses in the manufacturing, distribution and service industries.

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