SoundThinking, Inc. (NASDAQ:SSTI) Stock Now Rated “Reduce” by Sell-Side Analysts

SoundThinking, Inc. (NASDAQ:SSTI) has been given an average rating of “Reduce” by the nine brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.79.

A number of research firms have recently commented on SSTI. Weiss Ratings upgraded SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 29th. Northland Securities cut SoundThinking from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Citizens Jmp downgraded SoundThinking from an “outperform” rating to a “market perform” rating in a report on Friday, August 14th. Wall Street Zen downgraded SoundThinking from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Lake Street Capital lowered SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Friday, August 14th.

SoundThinking Price Performance

Shares of SSTI opened at $8.34 on Monday. The company has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $7.29. The firm has a market capitalization of $108.00 million, a PE ratio of -6.47 and a beta of 1.10. SoundThinking has a one year low of $5.41 and a one year high of $10.03.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. The firm had revenue of $23.89 million for the quarter, compared to analysts’ expectations of $25.77 million. Analysts expect that SoundThinking will post -1.06 EPS for the current fiscal year.

Institutional Trading of SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the business. Rice Hall James & Associates LLC bought a new position in shares of SoundThinking in the 2nd quarter worth about $4,225,000. Quantinno Capital Management LP lifted its position in SoundThinking by 264.8% during the 1st quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock valued at $1,566,000 after acquiring an additional 171,733 shares during the period. BlackRock Inc. bought a new stake in SoundThinking during the second quarter worth about $3,240,000. Kopion Asset Management LLC boosted its stake in SoundThinking by 14.9% during the third quarter. Kopion Asset Management LLC now owns 1,280,901 shares of the company’s stock worth $10,644,000 after acquiring an additional 166,253 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in SoundThinking during the second quarter worth about $367,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

About SoundThinking

SoundThinking, Inc is a public safety technology company that provides data-driven tools to help law enforcement and other public safety organizations detect, analyze and respond to crime. The company’s platform combines acoustic sensors, artificial intelligence, data analytics and investigative software to support emergency response, investigations and resource allocation.

Its flagship ShotSpotter service uses a network of acoustic sensors and machine-learning technology to detect, locate and analyze suspected gunfire, helping agencies identify incidents that may not be reported through emergency calls.