SoundThinking, Inc. (NASDAQ:SSTI) Short Interest Up 20.0% in July

SoundThinking, Inc. (NASDAQ:SSTI) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 218,800 shares, an increase of 20.0% from the June 30th total of 182,300 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 61,800 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Trading of SoundThinking

Several hedge funds have recently modified their holdings of the company. Bares Capital Management Inc. lifted its position in shares of SoundThinking by 4.9% during the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after buying an additional 36,187 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of SoundThinking by 6.9% during the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after buying an additional 32,452 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of SoundThinking by 14.5% during the first quarter. Rice Hall James & Associates LLC now owns 135,739 shares of the company’s stock valued at $2,156,000 after buying an additional 17,210 shares during the last quarter. Acuitas Investments LLC lifted its position in shares of SoundThinking by 76.6% during the fourth quarter. Acuitas Investments LLC now owns 80,984 shares of the company’s stock valued at $2,068,000 after buying an additional 35,124 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in shares of SoundThinking by 10.4% during the first quarter. Conestoga Capital Advisors LLC now owns 75,630 shares of the company’s stock valued at $1,201,000 after buying an additional 7,150 shares during the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SSTI shares. Lake Street Capital started coverage on shares of SoundThinking in a research report on Friday, May 24th. They set a “buy” rating and a $21.00 price objective on the stock. Craig Hallum cut their price target on shares of SoundThinking from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Roth Mkm restated a “buy” rating and issued a $30.00 price target on shares of SoundThinking in a report on Wednesday, May 15th. Cantor Fitzgerald cut their price target on shares of SoundThinking from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Finally, William Blair cut shares of SoundThinking from an “outperform” rating to a “market perform” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoundThinking presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

SoundThinking Stock Up 9.9 %

NASDAQ:SSTI traded up $1.36 during mid-day trading on Friday, reaching $15.08. The company’s stock had a trading volume of 125,549 shares, compared to its average volume of 60,443. SoundThinking has a 1 year low of $11.00 and a 1 year high of $26.92. The stock has a fifty day moving average of $13.68 and a 200-day moving average of $15.82. The firm has a market capitalization of $192.87 million, a PE ratio of -47.13 and a beta of 1.21.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). SoundThinking had a negative return on equity of 12.69% and a negative net margin of 3.94%. The business had revenue of $25.41 million during the quarter, compared to analysts’ expectations of $25.48 million. During the same period last year, the company earned ($0.15) earnings per share. On average, analysts expect that SoundThinking will post -0.35 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.