SoundThinking (NASDAQ:SSTI) Stock Rating Upgraded by Wall Street Zen

SoundThinking (NASDAQ:SSTI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently weighed in on SSTI. Cantor Fitzgerald downgraded SoundThinking from an “overweight” rating to a “neutral” rating and decreased their price target 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 research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, SoundThinking has a consensus rating of “Hold” and a consensus price target of $14.00.

SoundThinking Stock Performance

NASDAQ:SSTI opened at $6.66 on Friday. The company has a market capitalization of $86.25 million, a PE ratio of -9.00 and a beta of 1.21. The company has a 50 day simple moving average of $7.00 and a two-hundred day simple moving average of $8.25. SoundThinking has a fifty-two week low of $5.78 and a fifty-two week high of $17.43.

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

Insiders Place Their Bets

In other news, major shareholder Veradace Partners Lp purchased 105,880 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were acquired at an average cost of $7.14 per share, with a total value of $755,983.20. Following the purchase, the insider owned 2,008,368 shares in the company, valued at $14,339,747.52. This represents a 5.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 137,417 shares of company stock worth $979,843. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kopion Asset Management LLC lifted its holdings in shares of SoundThinking by 52.1% in the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock worth $7,806,000 after purchasing an additional 333,170 shares in the last quarter. Yost Capital Management LP acquired a new stake in SoundThinking in the 2nd quarter valued at $2,350,000. Strs Ohio bought a new stake in SoundThinking during the 1st quarter valued at $127,000. XTX Topco Ltd bought a new stake in SoundThinking during the 4th quarter valued at $120,000. Finally, Quadrature Capital Ltd acquired a new position in SoundThinking during the fourth quarter worth $87,000. Institutional investors own 60.74% of the company’s stock.

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.