SoundThinking, Inc. (NASDAQ:SSTI) Sees Large Growth in Short Interest

SoundThinking, Inc. (NASDAQ:SSTI) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 643,334 shares, an increase of 35.7% from the December 31st total of 473,999 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average trading volume of 181,673 shares, the days-to-cover ratio is currently 3.5 days. Based on an average trading volume of 181,673 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.7% of the shares of the company are short sold.

Institutional Investors Weigh In On SoundThinking

Several institutional investors and hedge funds have recently modified their holdings of SSTI. Meeder Asset Management Inc. purchased a new position in SoundThinking during the 3rd quarter valued at about $31,000. BNP Paribas Financial Markets grew its stake in SoundThinking by 160.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after purchasing an additional 1,688 shares in the last quarter. State of Wyoming acquired a new position in shares of SoundThinking during the second quarter worth about $33,000. Strs Ohio acquired a new position in SoundThinking during the 1st quarter worth approximately $127,000. Finally, Corient Private Wealth LLC acquired a new position in shares of SoundThinking during the second quarter worth $132,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SSTI shares. Lake Street Capital lowered their price target on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Citizens Jmp lowered their target price on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Cantor Fitzgerald cut SoundThinking from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $10.00 in a report on Wednesday, January 7th. Finally, Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SoundThinking has an average rating of “Hold” and an average price target of $14.00.

SoundThinking Stock Performance

Shares of NASDAQ SSTI traded down $0.17 during midday trading on Friday, reaching $6.98. 155,310 shares of the stock were exchanged, compared to its average volume of 177,009. SoundThinking has a twelve month low of $5.78 and a twelve month high of $19.43. The stock has a market capitalization of $88.65 million, a P/E ratio of -8.31 and a beta of 1.11. The company has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $9.93.

SoundThinking (NASDAQ:SSTI) last announced its earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). SoundThinking had a negative return on equity of 14.57% and a negative net margin of 10.44%.The company had revenue of $25.10 million for the quarter, compared to analysts’ expectations of $27.97 million. On average, research analysts expect that SoundThinking will post -0.42 earnings per share for the current year.

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.