SilverSun Technologies Inc (NASDAQ:SSNT) Sees Significant Decrease in Short Interest

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SilverSun Technologies Inc (NASDAQ:SSNT) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 100 shares, a decline of 96.0% from the July 15th total of 2,500 shares. Based on an average trading volume of 14,900 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Separately, ValuEngine raised SilverSun Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Shares of SilverSun Technologies stock traded up $0.59 on Wednesday, hitting $3.64. The stock had a trading volume of 28,352 shares, compared to its average volume of 3,709. The stock has a 50 day moving average of $2.74 and a 200 day moving average of $2.91. SilverSun Technologies has a twelve month low of $2.00 and a twelve month high of $8.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $10.56 million, a P/E ratio of 10.20 and a beta of 0.44.

An institutional investor recently raised its position in SilverSun Technologies stock. Bard Associates Inc. increased its position in SilverSun Technologies Inc (NASDAQ:SSNT) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,605 shares of the company’s stock after buying an additional 8,200 shares during the quarter. Bard Associates Inc. owned 5.03% of SilverSun Technologies worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 7.29% of the company’s stock.

SilverSun Technologies Company Profile

SilverSun Technologies, Inc operates as a business application, technology, and consulting company. The company resells enterprise resource planning software for the financial accounting requirements, as well as offers training, technical support, and professional services. The company also publishes and markets MAPADOC, an electronic data interchange software through a network of resellers.

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