ShotSpotter Inc. (NASDAQ:SSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “

A number of other research firms have also issued reports on SSTI. Northland Securities began coverage on ShotSpotter in a report on Monday, July 3rd. They issued an “outperform” rating and a $16.00 target price on the stock. Roth Capital began coverage on ShotSpotter in a report on Monday, July 10th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Imperial Capital began coverage on ShotSpotter in a report on Thursday, July 27th. They issued an “outperform” rating and a $16.00 target price on the stock.

Shares of ShotSpotter (SSTI) traded down 1.99% during trading on Wednesday, reaching $15.79. 207,475 shares of the company traded hands. The stock’s 50 day moving average is $12.64 and its 200 day moving average is $12.82. ShotSpotter has a 1-year low of $9.33 and a 1-year high of $19.60. The company’s market capitalization is $151.65 million.

ShotSpotter (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.03). The business had revenue of $5.84 million during the quarter, compared to the consensus estimate of $5.07 million. During the same period in the prior year, the company posted ($1.44) EPS. The company’s revenue was up 48.2% compared to the same quarter last year. On average, analysts forecast that ShotSpotter will post ($0.49) EPS for the current year.

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Large investors have recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc acquired a new position in shares of ShotSpotter in the second quarter valued at approximately $128,000. Goldman Sachs Group Inc. acquired a new position in shares of ShotSpotter in the second quarter valued at approximately $181,000. Spark Investment Management LLC acquired a new position in shares of ShotSpotter in the second quarter valued at approximately $231,000. Timpani Capital Management LLC acquired a new position in shares of ShotSpotter in the second quarter valued at approximately $885,000. Finally, Trellus Management Company LLC acquired a new position in shares of ShotSpotter in the second quarter valued at approximately $1,112,000. 21.52% of the stock is currently owned by institutional investors and hedge funds.

ShotSpotter Company Profile

ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.

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