Brokerages Set SoundThinking, Inc. (NASDAQ:SSTI) Target Price at $14.00

SoundThinking, Inc. (NASDAQ:SSTI) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.00.

Several analysts have issued reports on SSTI shares. Cantor Fitzgerald lowered shares of SoundThinking from an “overweight” rating to a “neutral” rating and cut their price target for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a report on Friday.

SoundThinking Price Performance

Shares of NASDAQ SSTI opened at $6.62 on Friday. SoundThinking has a one year low of $5.78 and a one year high of $17.43. The firm’s 50 day simple moving average is $7.05 and its two-hundred day simple moving average is $8.37. The stock has a market capitalization of $84.07 million, a P/E ratio of -8.95 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $24.79 million during the quarter, compared to the consensus estimate of $24.68 million. As a group, equities analysts expect that SoundThinking will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at SoundThinking

In related news, major shareholder Veradace Partners Lp purchased 105,880 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were acquired at an average cost of $7.14 per share, with a total value of $755,983.20. Following the purchase, the insider directly owned 2,008,368 shares of the company’s stock, valued at approximately $14,339,747.52. This trade represents a 5.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders purchased 137,417 shares of company stock worth $979,843. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its holdings in SoundThinking by 42.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,869 shares of the company’s stock valued at $232,000 after buying an additional 8,533 shares during the last quarter. Mackenzie Financial Corp grew its holdings in SoundThinking by 50.2% in the 4th quarter. Mackenzie Financial Corp now owns 203,411 shares of the company’s stock worth $1,640,000 after acquiring an additional 67,981 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of SoundThinking in the fourth quarter valued at about $120,000. Quadrature Capital Ltd purchased a new position in shares of SoundThinking in the fourth quarter valued at about $87,000. Finally, Occudo Quantitative Strategies LP raised its stake in shares of SoundThinking by 77.7% during the fourth quarter. Occudo Quantitative Strategies LP now owns 19,540 shares of the company’s stock valued at $157,000 after acquiring an additional 8,541 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.

About SoundThinking

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.