SoundThinking (NASDAQ:SSTI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SoundThinking (NASDAQ:SSTI) from a sell rating to a hold rating in a research note issued to investors on Saturday.

SSTI has been the subject of a number of other reports. Cantor Fitzgerald lowered SoundThinking from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $10.00 in a report on Wednesday, January 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.00.

SoundThinking Price Performance

Shares of SoundThinking stock opened at $6.73 on Friday. SoundThinking has a one year low of $5.78 and a one year high of $17.43. The firm has a market capitalization of $87.15 million, a price-to-earnings ratio of -9.09 and a beta of 1.21. The business has a 50-day simple moving average of $6.98 and a 200 day simple moving average of $8.21.

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

Insider Buying and Selling at SoundThinking

In other SoundThinking news, major shareholder Veradace Partners Lp bought 105,880 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were purchased at an average price of $7.14 per share, for a total transaction 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 represents a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 137,417 shares of company stock valued at $979,843. 10.40% of the stock is owned by insiders.

Hedge Funds Weigh In On SoundThinking

A number of hedge funds and other institutional investors have recently modified their holdings of SSTI. Meeder Asset Management Inc. purchased a new position in shares of SoundThinking in the 3rd quarter worth approximately $31,000. BNP Paribas Financial Markets boosted its stake 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 worth $33,000 after buying an additional 1,688 shares during 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 boosted its stake 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 purchased a new position in shares of SoundThinking in the 4th quarter worth approximately $87,000. Hedge funds and other 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.