SoundThinking (NASDAQ:SSTI) Upgraded to “Hold” at Wall Street Zen

SoundThinking (NASDAQ:SSTI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other brokerages have also recently issued reports on SSTI. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a report on Friday, March 27th. Cantor Fitzgerald lowered shares of SoundThinking from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $10.00 in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SoundThinking has an average rating of “Hold” and a consensus price target of $14.00.

SoundThinking Price Performance

SSTI opened at $6.66 on Friday. The stock’s fifty day moving average is $7.00 and its two-hundred day moving average is $8.30. The company has a market capitalization of $86.25 million, a P/E ratio of -9.00 and a beta of 1.21. SoundThinking has a 52 week low of $5.78 and a 52 week high of $17.43.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). SoundThinking had a negative return on equity of 12.73% and a negative net margin of 9.05%.The firm had revenue of $24.79 million during the quarter, compared to analysts’ expectations of $24.68 million. Equities analysts anticipate that SoundThinking will post -0.42 earnings per share for the current year.

Insider Activity

In related news, major shareholder Veradace Partners Lp purchased 105,880 shares of SoundThinking stock in a transaction dated Wednesday, February 18th. The stock was purchased at an average cost of $7.14 per share, with a total value of $755,983.20. Following the transaction, the insider owned 2,008,368 shares in the company, valued at approximately $14,339,747.52. The trade was a 5.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 137,417 shares of company stock valued at $979,843. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in SoundThinking in the third quarter worth about $31,000. BNP Paribas Financial Markets boosted its holdings in shares of SoundThinking by 160.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after buying an additional 1,688 shares in the last quarter. State of Wyoming purchased a new position in shares of SoundThinking in the 2nd quarter worth approximately $33,000. Wells Fargo & Company MN grew its position in shares of SoundThinking by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock worth $84,000 after buying an additional 4,580 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of SoundThinking during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

SoundThinking Company Profile

SoundThinking, Inc, a public safety technology company that provides transformative solutions and strategic advisory services for law enforcement and civic leadership. Its SafetySmart Platform, an integrated suite of data-driven tools that enable law enforcement and community violence prevention and health organizations to be efficient in public safety outcomes. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.