SoundThinking (NASDAQ:SSTI) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of SoundThinking (NASDAQ:SSTI) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

SSTI has been the subject of several other reports. Weiss Ratings upgraded SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen raised SoundThinking from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 31st. Three equities research 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 presently has an average rating of “Hold” and a consensus target price of $14.00.

SoundThinking Trading Down 1.9%

Shares of NASDAQ SSTI opened at $8.33 on Tuesday. The stock has a market cap of $107.87 million, a price-to-earnings ratio of -7.18 and a beta of 1.14. SoundThinking has a 52 week low of $5.78 and a 52 week high of $13.34. The company’s 50-day moving average price is $7.73 and its 200 day moving average price is $7.39.

SoundThinking (NASDAQ:SSTI) last announced its earnings results on Thursday, May 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). SoundThinking had a negative return on equity of 20.76% and a negative net margin of 14.95%.The business had revenue of $24.18 million for the quarter, compared to analyst estimates of $24.27 million. As a group, research analysts expect that SoundThinking will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On SoundThinking

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in SoundThinking by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after acquiring an additional 980 shares during the period. Barclays PLC raised its holdings in SoundThinking by 4.3% in the 4th quarter. Barclays PLC now owns 32,365 shares of the company’s stock valued at $260,000 after acquiring an additional 1,347 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of SoundThinking by 160.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after purchasing an additional 1,688 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of SoundThinking by 9.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 20,336 shares of the company’s stock worth $245,000 after purchasing an additional 1,759 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of SoundThinking by 88.6% during the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock worth $28,000 after purchasing an additional 1,960 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.