Why SSH Communications Security stock moves
SSH Communications Security edged up without company news.
Written after the close on ·
Why today
16,307 news analyzed todaySSH Communications Security edged up without company news.
Over the same day OMX Helsinki 25 slipped slightly, so the stock moved against the market.
The move was an ordinary one for this stock, within its usual daily range.
Over the last five trading days the shares fell slightly while the market rose slightly.
Earlier company news was the Q3 business review released on 28 October, which showed subscription ARR up 23.6% and net sales up 5.3%, but EBITDA fell to EUR 0.3 million from EUR 0.8 million.
Today's move of +0.75% was 0.6 times a normal day's 1.2%. OMX Helsinki 25 moved −0.52% on the same day.
SSH Communications Security +0.75%OMX Helsinki 25 −0.52%Against the market
What analysts expect, and how often they have been right
Analysts’ estimates for SSH Communications Security.
SSH Communications Security earned more than expected in 2 out of 6 reports.
Not in the chart because no estimate and result are available: 3 of the 9 reports in this period, the latest on July 17, 2025.
For comparison, about 46% of reports from Nordic companies beat the estimate in the last three years.
The share moved in the same direction as the earnings surprise in 3 out of 6 reports with a measured move, against about 63% of reports from Nordic companies.
Ratings
Price targets
Latest price 1.87 EUR
Earnings against expectations, and the share’s reaction
Expected EPSAbove estimateBelow estimateAs expectedEUR
Next reported quarter: expected earnings per share of -0.02 EUR. For the current fiscal year, expected earnings per share changed from -0.06 EUR three months ago to -0.07 EUR now. 2026 estimate: -0.07 EUR. 2027 estimate: -0.02 EUR. People on the board and in management must report their trades in the share, and the company publishes them. October 29: Buy about 17 thousand EUR. September 3: Buy about 33 thousand EUR. June 3: Sell about 22 thousand EUR. February 18: Sell about 23 thousand EUR. November 26: Buy about 7 thousand EUR.
Has the share price followed the business?
Price and earnings moved in the same direction: 1 out of 3 years. Across Nordic companies, that happens in about 60% of years. In 2025, the price changed +203% and earnings per share went from -0.06 EUR to -0.08 EUR.
Revenue, profit and market cap
RevenueProfitMarket capHatched bars: analysts’ estimates.m EUR
Assets, liabilities and market cap
AssetsLiabilitiesMarket capm EUR
Price and earnings moved in the same direction: 1 out of 3 years.Market cap (Now): 102 m EURRevenue 2025: 21.6 m EUR
What the key figures say about SSH Communications Security
The figures connect what SSH Communications Security earns with what investors pay.
The line shows the share price in the same year, on its own scale. Hatched bars: analysts’ estimates.
Profit divided by the number of shares. Each share represents this much of the earnings.
2022–2025: -0.10 EUR–-0.05 EUR. Peers: Loihde 1.10 EUR, Enea 4.20 SEK, Binero Group -0.30 SEK. 2026 estimate: -0.07 EUR (-0.07 EUR–-0.06 EUR). 2027 estimate: -0.02 EUR (-0.03 EUR–-0.01 EUR).
What the company sold during the year.
2022–2025: 19.3 m EUR–22.2 m EUR. Peers: Loihde 142 m EUR, Enea 881 m SEK, Binero Group 529 m SEK. 2026 estimate: 22.9 m EUR (22.8 m EUR–23.0 m EUR). 2027 estimate: 26.7 m EUR (26.6 m EUR–26.8 m EUR).
The percentage of revenue left after the costs of running the business.
2022–2025: −10.1%–−1.2%. Peers: Loihde 2.3%, Enea 14.8%, Binero Group −1.9%.
Profit as a percentage of shareholders’ money in the company.
2022–2025: −81.6%–−10.4%. Peers: Loihde 4.6%, Enea 4.7%, Binero Group −28.0%.
What investors pay for each unit the company sells.
2022–2025: 1.92–7.95. Peers: Loihde 0.65, Enea 1.07, Binero Group 0.42. 2026 estimate: 4.46. 2027 estimate: 3.83.
Money paid to shareholders per share, summed by calendar year.
2017–2025: 0.00 EUR–0.00 EUR.
The ordinary yearly dividend as a percentage of the share price.
2022–2025: 0.0%–0.0%. Peers: Loihde 6.9%, Enea 0.0%, Binero Group 0.0%.
More key figures
Market cap divided by shareholders’ equity, what remains after liabilities.
2022–2025: 9.02–18.58. Peers: Loihde 1.04, Enea 0.53, Binero Group 1.70.
Cash left after investments, divided by the number of shares.
2022–2025: 0.01 EUR–0.03 EUR. Peers: Loihde 1.57 EUR, Enea 11.38 SEK, Binero Group 0.09 SEK.
The percentage of assets financed by shareholders’ equity.
2022–2025: 7.6%–40.2%.
More about SSH Communications Security
Insider trades
People on the board and in management must report their trades in the share, and the company publishes them.
- Lars Bell, CEOBuyabout 17 thousand EUR
- Kai Tavakka, board member (closely associated)Buyabout 33 thousand EUR
- Michael Kommonen, CFOSellabout 22 thousand EUR
- Michael Kommonen, CFOSellabout 23 thousand EUR
- Henri Österlund, board memberBuyabout 7 thousand EUR
Earnings report
On its last 16 report days SSH Communications Security usually moved about 4.9%. On a normal day it moves 1.2%.
+1.01% −8.74% −2.97% −6.95%
10,000 EUR in SSH Communications Security bought on November 7, 2016 is worth 8,870 EUR today, with dividends reinvested.
The same amount in OMX Helsinki with dividends would have become 24,400 EUR.
What would 10,000 EUR in SSH Communications Security be worth today? →
What would 10,000 EUR in SSH Communications Security be worth today?
8,870 EUR
with dividends reinvested, bought on November 7, 2016. The same amount in OMX Helsinki with dividends would have become 24,400 EUR.
At worst it was worth 3,270 EUR (March 16, 2020).
The five biggest days of the journey
· +69.1% · the whole market fell 0.2% the same day
· +34.1% · the whole market fell 0.8% the same day
· +33.0% · the whole market was unchanged the same day
· +28.5% · the whole market rose 0.3% the same day
· +26.2% · the whole market rose 0.4% the same day
Earlier days
−1.47% market +0.50% SSH Communications Security (listed on Nasdaq Helsinki) edged down over the week, an ordinary-sized move. Read →
SSH Communications Security (listed on Nasdaq Helsinki) edged down over the week, an ordinary-sized move.
Over the same days the Helsinki market rose slightly, so the stock moved against the market.
The main company news was a notice that it will redeem its last small batch of hybrid notes, a type of loan that counts partly as equity, on 15 December.
The notice appeared on 5 November and is a minor financing step rather than a change in business prospects.
+0.87% market −0.56% SSH Communications Security rose after the redemption notice. Read →
SSH Communications Security rose after the redemption notice.
The stock moved against the OMX Helsinki 25 index, which fell slightly over the same session, so the move was not market-driven.
The day's move was an ordinary one for the stock, and trading volume was about twice its usual level.
Over the last five trading days the shares fell clearly, while the broader market was roughly flat.
Most likely this reflects reaction to the Q3 report, which showed subscription growth but weak operating profit and delayed customer orders.
−2.75% market +1.42% SSH Communications Security fell, against a sharp rise in the market. Read →
SSH Communications Security fell, against a sharp rise in the market.
No company news explains the drop.
Over the last five trading days the stock rose slightly, while the market was roughly flat.
Trading was around its usual level.
Technology peers were roughly flat to slightly lower over the same days.
−3.85% market −1.16% SSH Communications Security fell, more than the market. Read →
SSH Communications Security fell, more than the market.
No company news explains it.
Over the last five trading days the shares were roughly unchanged, while OMX Helsinki 25 was also roughly flat.
The CEO bought shares on October 29, which is dated background, not the cause.
Its Q3 report came out earlier this week, before the last session, and was about in line with expectations.
+1.17% market +0.22% SSH Communications Security was roughly unchanged over the week, and so was the market. Read →
SSH Communications Security was roughly unchanged over the week, and so was the market.
The shares fell sharply on Friday, more than the market, after the CEO bought shares.
Peers rose about 3.9% over the same days, so the company lagged them.
The company's business review on 28 October showed subscription annual recurring revenue (ARR, the yearly value of subscription contracts) up 23.6% and net sales up 5.3%.
+9.78% market +0.16% SSH Communications Security rose without company news. Read →
SSH Communications Security rose without company news.
Over the same day, the OMX Helsinki 25 was roughly unchanged, so the stock moved while the market stayed flat.
The move was about six times a normal day for the stock, and moves that big have happened about five times in the past year.
Over the last five trading days, the stock rose clearly and moved more than the market, which rose slightly.
Its latest quarterly report came out yesterday, before the last session, and showed net sales up 5.3% and subscription ARR up 23.6%, while EBITDA fell to EUR 0.3 million from EUR 0.8 million.
−3.47% market −0.14% SSH Communications Security fell sharply without company news. Read →
SSH Communications Security fell sharply without company news.
The shares moved while the broader market stayed roughly flat.
Over the last five trading days, the stock eased slightly while the market was roughly unchanged.
Its own sector peers rose over the wider window, but that is context, not a cause.
The company's business review notice came out before the session and is not the reason for the move.
Learn more · Why do stocks go up and down?