SoundThinking (NASDAQ:SSTI) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of SoundThinking (NASDAQ:SSTI) from a sell rating to a strong sell rating in a report issued on Saturday morning.

A number of other equities research analysts also recently commented on the stock. Lake Street Capital downgraded shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a report on Friday. Roth Capital set a $13.00 price target on SoundThinking in a report on Friday. Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Northland Securities set a $10.00 price objective on shares of SoundThinking in a report on Friday. Finally, Citizens Jmp reissued a “market perform” rating on shares of SoundThinking in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SoundThinking currently has a consensus rating of “Hold” and an average price target of $10.83.

SoundThinking Stock Performance

Shares of NASDAQ:SSTI opened at $5.58 on Friday. SoundThinking has a one year low of $5.57 and a one year high of $13.34. The business’s fifty day moving average price is $8.17 and its two-hundred day moving average price is $7.37. The stock has a market cap of $72.26 million, a PE ratio of -4.33 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last announced its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.12). The firm had revenue of $23.89 million during the quarter, compared to analyst estimates of $25.77 million. SoundThinking had a negative net margin of 16.92% and a negative return on equity of 23.31%. As a group, equities research analysts predict that SoundThinking will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

Large investors have recently modified their holdings of the company. Kopion Asset Management LLC grew its holdings in shares of SoundThinking by 14.6% during the 2nd quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company’s stock worth $10,088,000 after purchasing an additional 142,346 shares during the period. Wasatch Advisors LP increased its stake in shares of SoundThinking by 3.7% in the third quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock worth $6,682,000 after buying an additional 19,848 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of SoundThinking in the 2nd quarter valued at about $4,225,000. BlackRock Inc. bought a new position in SoundThinking during the 2nd quarter worth approximately $3,240,000. Finally, Quantinno Capital Management LP lifted its stake in SoundThinking by 264.8% during the first quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock worth $1,566,000 after purchasing an additional 171,733 shares during the last quarter. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

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.