Silvergate Capital Corporation Share Price Forecast October 2021 – Time to Buy SI?

Silvergate capital is a famous holding company known for providing banking, loan services, and other financial infrastructure solutions to clients associated with the digital currency industry. The active finance sector participant has recorded an interesting movement in the past few weeks which begs the question: is it time to invest in Silvergate capital or not? Let’s find out the answer in the following section.

Silvergate Capital – Technical Analysis

This company is considered by many as the leader in terms of regional banks. It was founded in 1988 and since then it has been operating from headquarters in La Jolla, California. Though the company’s NYSE-listed shares SI has been exhibiting a bearish sentiment, the past few weeks have been quite active for Silvergate. According to its financial overview, the company is sitting with a total market capitalisation of $3.06 billion with a P/E ratio of 52.66 and EPS of 2.24. The total enterprise value that SI holds in the market is $2.92 billion. The next earnings release for the company is slated for December 2.

In addition to this, the technical viewpoint looks far more encouraging for investors who want to capitalise on the share price movements. The favour of several technical indicators put SI shares within the Buy Zone at the moment which means this is a good time as any other to enter a specific position and see where it leads you into the market. Moving averages like SMA (107.72), EMA (110.07), and oscillators like RSI (57.28) and MACD (0.47) are pointing towards a buy price action.

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Recent Developments

The services of Silvergate Capital include Silvergate Exchange Network, Cash management solutions, and deposit account services. Several regulated digital currency companies and exchanges are clients to Silvergate. The shares of the company went up when Morgan Stanley analysts began covering the bank. The result of the analysis proved beyond suspicion that Morgan Stanley forecasts Silvergate performing better than all the other alternatives active within the banking sector.

In the past, the company has shown excellent growth and a solid track record despite a frequent cryptocurrency market slump. The company’s performance guarantees that it does not rely on the volatility of digital assets at all. A lot of reputed institutional investors are shareholders within the company which makes SI a credible choice of investment for share market participants.

Though the market recently fell a few points, experts say that it happened as all financial stocks finished their Monday highs before heading into the end of the week. An insider sale took place sometime during mid of September within the company. Since August, the insider selling trend has continued for Silvergate which brought a lot of investors’ attention.

Should You Buy SI Shares?

Experts look up to it as a well-performing investment opportunity that has tremendous potential to grow further. One would have to wait for a while to see how it performs in the next week. Because an investment opportunity’s future is what concerns any experienced investor irrespective of their investment strategy.

As no single shareholder owns significant ownership of the financial company, it is possible that insider selling would change that situation. At the moment, The Vanguard Group owns almost 6.7% of SI which makes it the most significant shareholder of the company. The CEO, Alan Lane also has 0.9% shares of the company at his disposal which indicates that the company will be making some drastic decisions sometime in the future and hence perform well under ideal conditions.

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