SoundThinking, Inc. (NASDAQ:SSTI) Given Average Recommendation of “Hold” by Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $14.00.

SSTI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Cantor Fitzgerald downgraded SoundThinking from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $10.00 in a report on Wednesday, January 7th.

SoundThinking Trading Down 3.5%

SSTI opened at $6.39 on Friday. The company has a fifty day simple moving average of $7.09 and a 200 day simple moving average of $8.48. The firm has a market cap of $81.15 million, a price-to-earnings ratio of -8.64 and a beta of 1.16. SoundThinking has a twelve month low of $5.78 and a twelve month high of $18.60.

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

Insider Activity

In other SoundThinking news, major shareholder Veradace Partners Lp bought 105,880 shares of SoundThinking stock in a transaction dated Wednesday, February 18th. The stock was bought at an average cost of $7.14 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 137,417 shares of company stock valued at $979,843. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of SoundThinking

Institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in shares of SoundThinking during the third quarter worth $31,000. BNP Paribas Financial Markets raised its stake in SoundThinking by 160.5% during the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after acquiring an additional 1,688 shares during the period. State of Wyoming acquired a new stake in SoundThinking during the second quarter worth about $33,000. Wells Fargo & Company MN lifted its holdings in SoundThinking by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock worth $84,000 after acquiring an additional 4,580 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in SoundThinking in the fourth quarter worth about $87,000. 60.74% of the stock is owned by institutional investors and hedge funds.

About SoundThinking

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.