Shotspotter (SSTI) Lowered to Neutral at National Securities

Shotspotter (NASDAQ:SSTI) was downgraded by National Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

SSTI has been the subject of several other reports. B. Riley assumed coverage on Shotspotter in a research report on Thursday, December 20th. They set a “buy” rating and a $53.00 target price for the company. Lake Street Capital set a $55.00 price target on Shotspotter and gave the stock a “buy” rating in a report on Thursday, November 15th. JMP Securities decreased their price target on Shotspotter from $62.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. BidaskClub upgraded Shotspotter from a “hold” rating to a “buy” rating in a report on Sunday, January 13th. Finally, Robert W. Baird initiated coverage on Shotspotter in a report on Tuesday, December 18th. They set an “outperform” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $45.71.

Shares of SSTI opened at $47.44 on Wednesday. Shotspotter has a 52 week low of $16.00 and a 52 week high of $66.14. The firm has a market capitalization of $511.11 million, a PE ratio of -83.23, a PEG ratio of 12.27 and a beta of 3.03.

Shotspotter (NASDAQ:SSTI) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.09). Shotspotter had a negative net margin of 17.52% and a negative return on equity of 37.42%. The firm had revenue of $9.21 million during the quarter, compared to the consensus estimate of $8.99 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The firm’s revenue was up 34.5% on a year-over-year basis. On average, sell-side analysts predict that Shotspotter will post -0.26 earnings per share for the current fiscal year.

In other Shotspotter news, VP Joseph O. Hawkins sold 1,911 shares of Shotspotter stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $29.31, for a total transaction of $56,011.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas T. Groos sold 112,000 shares of Shotspotter stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $32.41, for a total value of $3,629,920.00. The disclosure for this sale can be found here. Company insiders own 36.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of SSTI. Bank of New York Mellon Corp bought a new stake in shares of Shotspotter in the 2nd quarter worth approximately $680,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Shotspotter in the 2nd quarter worth approximately $513,000. BlackRock Inc. raised its holdings in shares of Shotspotter by 3,517.6% in the 2nd quarter. BlackRock Inc. now owns 356,262 shares of the company’s stock worth $13,513,000 after purchasing an additional 346,414 shares during the period. Northern Trust Corp raised its holdings in shares of Shotspotter by 872.1% in the 2nd quarter. Northern Trust Corp now owns 74,697 shares of the company’s stock worth $2,834,000 after purchasing an additional 67,013 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Shotspotter by 7.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 192,626 shares of the company’s stock worth $11,817,000 after purchasing an additional 12,589 shares during the period. 55.08% of the stock is currently owned by hedge funds and other institutional investors.

Shotspotter Company Profile

ShotSpotter, Inc provides software-as-a-service based gunshot detection solutions for law enforcement officials and security personnel in the United States, South Africa, and internationally. The company's solutions include ShotSpotter Flex, an outdoor public safety solution for cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and SST SecureCampus that helps the law enforcement and security personnel serving universities, colleges, and other educational institutions to mitigate risk and enhance security by notifying authorities and first responders of an active-shooter.

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