Silvergate Capital (NYSE:SI) Trading Down 2.4%

Silvergate Capital Co. (NYSE:SI)’s stock price dropped 2.4% during mid-day trading on Thursday . The stock traded as low as $0.33 and last traded at $0.40. Approximately 39,995 shares traded hands during trading, a decline of 100% from the average daily volume of 14,795,615 shares. The stock had previously closed at $0.41.

Silvergate Capital Price Performance

The firm has a 50 day moving average of $0.35 and a 200-day moving average of $0.30. The company has a current ratio of 0.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The company has a market cap of $12.66 million, a P/E ratio of -0.01 and a beta of 2.23.

Hedge Funds Weigh In On Silvergate Capital

Several institutional investors have recently bought and sold shares of SI. Citigroup Inc. lifted its stake in Silvergate Capital by 338.6% in the 1st quarter. Citigroup Inc. now owns 28,542 shares of the company’s stock worth $46,000 after purchasing an additional 22,035 shares in the last quarter. Credit Suisse AG lifted its position in shares of Silvergate Capital by 68.1% in the first quarter. Credit Suisse AG now owns 43,500 shares of the company’s stock worth $70,000 after buying an additional 17,623 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Silvergate Capital in the first quarter worth about $88,000. Harbour Investments Inc. boosted its stake in Silvergate Capital by 500.4% during the fourth quarter. Harbour Investments Inc. now owns 5,049 shares of the company’s stock valued at $88,000 after buying an additional 4,208 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in Silvergate Capital during the 1st quarter valued at approximately $101,000. 94.41% of the stock is owned by hedge funds and other institutional investors.

About Silvergate Capital

Silvergate Capital Corporation operates as a bank holding company for Silvergate Bank that provides banking products and services to business and individual clients in the United States. The company accepts deposit products, including interest and noninterest bearing demand accounts, money market and savings accounts, and certificates of deposit accounts.