Friday, January 15, 2021

Silvergate Capital Corporation [SI] moved down -10.90: Why It’s Important

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Silvergate Capital Corporation [NYSE: SI] stock went on a downward path that fall over -10.90% on Monday, amounting to a one-week price decrease of less than -1.33%. The company report on November 5, 2020 that Silvergate Announces Addition of Jonathan Melton as Director of Digital Asset Lending.

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Silvergate Capital Corporation (“Silvergate” or the “Company”) (NYSE:SI), the leading provider of innovative financial infrastructure solutions to the digital currency industry, announced that Jonathan Melton joined its team as director of digital asset lending. In this role, Jonathan will lead the expansion of the Company’s SEN Leverage product. SEN Leverage allows customers to obtain U.S. dollar (“USD”) loans collateralized by bitcoin using the Silvergate Exchange Network (“SEN”) to fund loans and process repayments in virtually real-time, 24 hours per day, 7 days per week, 365 days per year.


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Before joining Silvergate, Jonathan was a Director in the Institutions group at Xapo, one of the largest bitcoin custodians in the world, which was acquired by Coinbase Custody in 2019. Jonathan successfully expanded Xapo’s presence with many of the largest endowments, hedge funds and family offices in the U.S. Before and after his time at Xapo, Jonathan was employed by Morgan Stanley for a total of 13 years. In his roles at Morgan Stanley, Jonathan distributed a diverse foreign exchange product suite to domestic and international clients and led the retail currency platform through a period of substantial growth.

Over the last 12 months, SI stock rose by 315.93%. The one-year Silvergate Capital Corporation stock forecast points to a potential downside of -20.09. The average equity rating for SI stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.23 billion, with 18.68 million shares outstanding and 16.18 million shares in the current float. Compared to the average trading volume of 637.91K shares, SI stock reached a trading volume of 1273346 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Silvergate Capital Corporation [SI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SI shares is $55.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SI stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Silvergate Capital Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 22, 2020. The new note on the price target was released on December 17, 2020, representing the official price target for Silvergate Capital Corporation stock. Previously, the target price had yet another raise to $50, while Craig Hallum analysts kept a Buy rating on SI stock.

The Average True Range (ATR) for Silvergate Capital Corporation is set at 7.53, with the Price to Sales ratio for SI stock in the period of the last 12 months amounting to 15.83. The Price to Book ratio for the last quarter was 4.35, with the Price to Cash per share for the same quarter was set at 13.32.

SI Stock Performance Analysis:

Silvergate Capital Corporation [SI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.33. With this latest performance, SI shares gained by 77.51% in over the last four-week period, additionally plugging by 396.62% over the last 6 months – not to mention a rise of 315.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SI stock in for the last two-week period is set at 59.69, with the RSI for the last a single of trading hit 53.75, and the three-weeks RSI is set at 62.88 for Silvergate Capital Corporation [SI]. The present Moving Average for the last 50 days of trading for this stock 43.53, while it was recorded at 70.03 for the last single week of trading, and 21.61 for the last 200 days.

Insight into Silvergate Capital Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Silvergate Capital Corporation [SI] shares currently have an operating margin of +32.17. Silvergate Capital Corporation’s Net Margin is presently recorded at +27.22.

Return on Total Capital for SI is now 11.37, given the latest momentum, and Return on Invested Capital for the company is 10.72. Return on Equity for this stock inclined to 11.77, with Return on Assets sitting at 1.20. When it comes to the capital structure of this company, Silvergate Capital Corporation [SI] has a Total Debt to Total Equity ratio set at 31.77. Additionally, SI Total Debt to Total Capital is recorded at 24.11, with Total Debt to Total Assets ending up at 3.44. Long-Term Debt to Equity for the company is recorded at 9.35, with the Long-Term Debt to Total Capital now at 7.09.

Reflecting on the efficiency of the workforce at the company, Silvergate Capital Corporation [SI] managed to generate an average of $115,563 per employee.

SI Stock EPS

With the latest financial reports released by the company, Silvergate Capital Corporation posted 0.19/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 58.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SI.

Silvergate Capital Corporation [SI] Insider Position Details

There are presently around $695 million, or 65.50% of SI stock, in the hands of institutional investors. The top three institutional holders of SI stocks are: SENVEST MANAGEMENT, LLC with ownership of 1,581,333, which is approximately 12.307% of the company’s market cap and around 1.70% of the total institutional ownership; PARK WEST ASSET MANAGEMENT LLC, holding 1,552,000 shares of the stock with an approximate value of $102.51 million in SI stocks shares; and FJ CAPITAL MANAGEMENT LLC, currently with $72.33 million in SI stock with ownership of nearly 7.882% of the company’s market capitalization.

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Positions in Silvergate Capital Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 50 institutional holders increased their position in Silvergate Capital Corporation [NYSE:SI] by around 2,211,927 shares. Additionally, 16 investors decreased positions by around 545,721 shares, while 14 investors held positions by with 7,771,584 shares. The mentioned changes placed institutional holdings at 10,529,232 shares, according to the latest SEC report filing. SI stock had 15 new institutional investments in for a total of 378,888 shares, while 8 institutional investors sold positions of 525,549 shares during the same period.

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