Craig-Hallum Downgrades Silvergate Capital Corp. (SI) to Hold

Silvergate Capital (SI) stock drops 8% on downgrades, BofA sees 35% more downside

January 6, 2023 9:07 AM EST

Shares of Silvergate Capital (NYSE: SI) are down a further 8% in pre-market Friday after dropping nearly 43% yesterday.

Shared crashed after the company witnessed a large decline in deposits following the FTX collapse. As a result, Silveragate announced it is laying off 40% of its... More

Tesla, Bed Bath&Beyond and Silvergate Capital fall premarket; WWE rises

January 6, 2023 8:31 AM EST

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, January 6th. Please refresh for updates.

Tesla (NASDAQ: TSLA) stock fell 6.2% after the... More

Silvergate Capital Corp. (SI) PT Lowered to $16 at Wells Fargo

January 6, 2023 8:09 AM EST

Wells Fargo analyst Jared Shaw lowered the price target on Silvergate Capital Corp. (NYSE: SI) to $16.00 (from $27.00) while maintaining a Equal Weight rating.... More

Silvergate Capital Corp. (SI) PT Lowered to $25 at Canaccord Genuity

January 6, 2023 7:59 AM EST

Canaccord Genuity analyst Joseph Vafi lowered the price target on Silvergate Capital Corp. (NYSE: SI) to $25.00 (from $150.00) while maintaining a Buy rating.... More

BofA Securities Downgrades Silvergate Capital Corp. (SI) to Underperform, sees another 35% downside

January 6, 2023 7:52 AM EST

(Updated - January 6, 2023 8:42 AM EST)

BofA Securities analyst Brandon Berman downgraded Silvergate Capital Corp. (NYSE: SI) from Neutral to Underperform with a price target of $8.00 (from $37.00).

The analyst commented, "Silvergates preliminary 4Q22 results introduced a new overhang on the stock: negative... More

Silvergate Capital Corp. (SI) PT Lowered to $13 at Morgan Stanley

January 6, 2023 6:46 AM EST

Morgan Stanley analyst Manan Gosalia lowered the price target on Silvergate Capital Corp. (NYSE: SI) to $13.00 (from $24.00) while maintaining a Underweight rating.... More

Silvergate Capital Corp. (SI) PT Lowered to $21 at BTIG

January 6, 2023 5:31 AM EST

BTIG analyst Mark Palmer lowered the price target on Silvergate Capital Corp. (NYSE: SI) to $21.00 (from $51.00) while maintaining a Buy rating.... More

JPMorgan Downgrades Silvergate Capital Corp. (SI) to Neutral

January 6, 2023 3:25 AM EST

(Updated - January 6, 2023 5:21 AM EST)

JPMorgan analyst Steven Alexopoulos downgraded Silvergate Capital Corp. (NYSE: SI) from Overweight to Neutral with a price target of $14.00 (from $30.00).

The analyst comments "Yesterday, Silvergate released selected 4Q22 metrics. There is no way to sugar coat that what the company released as the preliminary results were (1) far worse than we expected and (2) with near- as well as longer-term implications to the business. To put things into perspective, in November 2022 we published a report that looked at downside EPS scenarios under various stress conditions and the disclosed $4.7B... More

Today’s most important price target changes

January 5, 2023 6:15 PM EST

Wells Fargo lowered the price target on Bed Bath & Beyond (NASDAQ: BBBY) to $1.00 from $2.00 while maintaining an Underweight rating. Shares dropped more than 29% today and were trading more than 9% lower after hours on the WSJ report, according to which the company is preparing to file for... More

Silvergate Capital Corp. (SI) PT Lowered to $15 at Wedbush

January 5, 2023 11:53 AM EST

Wedbush analyst David Chiaverini lowered the price target on Silvergate Capital Corp. (NYSE: SI) to $15.00 (from $25.00) while maintaining a Outperform rating.

... More

Amazon, T-Mobile rise premarket; Walgreens, Coinbase fall

January 5, 2023 8:46 AM EST

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, January 5th. Please refresh for updates.

Amazon (NASDAQ: AMZN) stock rose 1.3% after the online retail giants CEO Andy... More

Silvergate Capital (SI) crashes 40% after selling assets at a significant loss following FTX collapse

January 5, 2023 8:07 AM EST

Shares of Silvergate Capital (NYSE: SI) are down nearly 40% in pre-market trading Thursday after the bank sold assets at a significant loss to address $8.1 billion in withdrawals, according to a report by the Wall Street Journal (WSJ).

Silvergate confirmed that it utilized wholesale funding to satisfy outflows.

The bank sold debt it was holding on its balance sheet at a $718 million loss after its crypto-related deposits tumbled 68% in the fourth quarter, a preliminary earnings release showed. The loss exceeded Silvergates total profits... More

Coinbase (COIN) Trades Lower in Sympathy with Silvergate Capital (SI)

January 5, 2023 7:23 AM EST

(Updated - January 5, 2023 7:57 AM EST)

Coinbase (NASDAQ: COIN) Trades Lower in Sympathy with Silvergate Capital (NYSE: SI)

SI -44% after reporting plunge in crypto-related deposits, job cutsCOIN -6%Coinbase was also downgraded to Market Perform at Cowen. This could also be weighing on shares.... More

Silvergate Capital (SI) Announces Select Preliminary Metrics, Plans Reduction in Force

January 5, 2023 7:01 AM EST

Silvergate Capital Corporation (Silvergate or the Company) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced select unaudited and preliminary financial metrics for the three months ended December 31, 2022 and provided a business update. These metrics are subject to change in connection with conducting and completing normal closing procedures and an audit for the year ended December 31, 2022. The Company will also host a conference call at 8:00 a.m. (Eastern Time) today, January 5, 2023, to discuss certain recent developments.

The digital asset industry has undergone a transformational shift, with... More

Silvergate Capital shares sink as crypto-related deposits plunge by $8 billion

January 5, 2023 6:58 AM EST

By Manya Saini, Niket Nishant and Hannah Lang

(Reuters) -Silvergate Capital Corp reported a sharp drop in fourth-quarter crypto-related deposits on Thursday as investors spooked by the collapse of FTX pulled out more than $8 billion in deposits, sending shares down more than 42%.

The crypto-focused bank also said it would cut its workforce by 40%, or about 200 employees, as it tries to rein in costs amid a deepening industry downturn. Its stock was last trading at $12.55.

The dire preliminary earnings report shows the extent of the impact on the digital asset industry from the downfall of crypto... More

Silvergate Capital (SI) sinks 19% following WSJ report that customers pulled $8.1 billion in deposits during crypto meltdown.

January 5, 2023 6:43 AM EST

Silvergate Capital (NYSE: SI) sinks 19% following WSJ report that customers pulled $8.1 billion in deposits during crypto meltdown.

... More

Silvergate Capital (SI) Raced to Cover $8.1 Billion in Withdrawals During Crypto Meltdown - WSJ

January 5, 2023 6:33 AM EST

Silvergate Capital (NYSE: SI) Raced to Cover $8.1 Billion in Withdrawals During Crypto Meltdown - WSJ

cut 40% of its staff but remains committed to crypto

... More

Silvergate Capital (SI) To Provide Select Preliminary Fourth Quarter 2022 Financial Metrics and Host Business Update Conference Call on Thursday

January 4, 2023 4:31 PM EST

Silvergate Capital Corporation (Silvergate or the Company) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that it will release select unaudited and preliminary fourth quarter 2022 financial metrics before market open on Thursday, January 5, 2023, with a conference call to follow at 8:00 a.m. (Eastern Time).

The conference call can be accessed live by dialing... More

Judge Ordered Seizure of Money From FTX Digital Markets Accounts at Silvergate (SI), Court Filing Says -- WSJ

January 4, 2023 3:41 PM EST

Judge Ordered Seizure of Money From FTX Digital Markets Accounts at Silvergate (NYSE: SI), Court Filing Says -- WSJ

... More

Marathon Digital Holdings (MARA) Climbs 20%, Peers Also Higher

January 4, 2023 11:07 AM EST

Marathon Digital Holdings (NASDAQ: MARA) Climbs 20%, Peers Also Higher

RIOT +12%COIN +11%MSTR +7%SI +21%

... More