SilverSun Technologies, Inc. (NASDAQ:SSNT) Short Interest Down 15.7% in March

SilverSun Technologies, Inc. (NASDAQ:SSNT - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 290,600 shares, a decline of 15.7% from the February 29th total of 344,700 shares. Approximately 7.3% of the company's shares are sold short. Based on an average daily volume of 179,100 shares, the days-to-cover ratio is currently 1.6 days.

Insider Transactions at SilverSun Technologies

In related news, CEO Mark Meller sold 14,584 shares of the business's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $13.08, for a total transaction of $190,758.72. Following the completion of the transaction, the chief executive officer now owns 295,152 shares in the company, valued at approximately $3,860,588.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 80,585 shares of company stock worth $1,096,225. 37.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SilverSun Technologies

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in SilverSun Technologies by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 144,330 shares of the company's stock valued at $471,000 after purchasing an additional 10,020 shares in the last quarter. Renaissance Technologies LLC bought a new stake in SilverSun Technologies during the 1st quarter valued at $76,000. Morgan Stanley raised its position in SilverSun Technologies by 53.9% during the 4th quarter. Morgan Stanley now owns 41,046 shares of the company's stock valued at $121,000 after purchasing an additional 14,376 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of SilverSun Technologies in the 1st quarter worth $61,000. Finally, Red Door Wealth Management LLC bought a new position in shares of SilverSun Technologies in the 4th quarter worth $171,000. Hedge funds and other institutional investors own 58.68% of the company's stock.

SilverSun Technologies Trading Up 1.1 %

SSNT traded up $0.14 during trading hours on Friday, reaching $13.19. 23,933 shares of the company's stock traded hands, compared to its average volume of 71,359. The firm has a 50-day moving average price of $14.29 and a 200 day moving average price of $9.57. SilverSun Technologies has a 52-week low of $2.95 and a 52-week high of $24.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $70.17 million, a PE ratio of -65.95 and a beta of 2.16.

Analyst Ratings Changes

Separately, TheStreet upgraded SilverSun Technologies from a "d+" rating to a "c-" rating in a report on Monday, December 11th.

SilverSun Technologies Company Profile

SilverSun Technologies, Inc operates as a business application, technology, and consulting company in the United States. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.