Silver Spike Investment Corp Up 7.09% To $9.37 After Earnings Beat

Silver Spike Investment Corp (SSIC) said after close Thursday that it earned $0.31 per share in quarter two 2023.

On the revenue line, the company reported $2.9 million, beating estimates by $284 thousand.

In the same quarter a year ago, the company earned $0.09 per share on revenue of $1.2 million.

The stock is up 7.09% to $9.37 after the report.

Silver Spike Investment Corp's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Silver Spike Investment Corp has performed a little below average during the past few months. Before the report, Silver Spike Investment Corp received a Long-Term Technical Rank by InvestorsObserver of 37, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $7.52 on July 25, 2023 and set a 52-week high on September 12, 2022 at $11.24.

Silver Spike Investment Corp is a closed-end management investment company formed to invest in companies across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately-held cannabis businesses.