SoundThinking, Inc. (NASDAQ:SSTI) Sees Large Growth in Short Interest

SoundThinking, Inc. (NASDAQ:SSTI) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 643,334 shares, an increase of 35.7% from the December 31st total of 473,999 shares. Based on an average daily trading volume, of 181,673 shares, the short-interest ratio is currently 3.5 days. Currently, 5.7% of the shares of the stock are sold short. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 181,673 shares, the short-interest ratio is currently 3.5 days.

Institutional Trading of SoundThinking

Several hedge funds have recently modified their holdings of SSTI. Strs Ohio acquired a new position in SoundThinking during the 1st quarter worth $127,000. R Squared Ltd purchased a new position in shares of SoundThinking in the 2nd quarter valued at about $156,000. Pullen Investment Management LLC grew its position in shares of SoundThinking by 1.0% during the second quarter. Pullen Investment Management LLC now owns 160,653 shares of the company’s stock worth $2,097,000 after buying an additional 1,515 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SoundThinking by 6.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,707 shares of the company’s stock worth $1,014,000 after buying an additional 4,776 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of SoundThinking by 6.5% during the second quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after buying an additional 980 shares during the period. 60.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SSTI has been the subject of a number of recent research reports. Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Lake Street Capital reduced their target price on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Craig Hallum lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price on the stock. in a report on Thursday, November 13th. Finally, Citizens Jmp cut their price target on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.00.

SoundThinking Price Performance

NASDAQ SSTI opened at $6.98 on Monday. The company has a market cap of $88.65 million, a P/E ratio of -8.31 and a beta of 1.16. The stock has a 50-day moving average of $7.59 and a two-hundred day moving average of $9.91. SoundThinking has a 1-year low of $5.78 and a 1-year high of $19.43.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). SoundThinking had a negative net margin of 10.44% and a negative return on equity of 14.57%. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $27.97 million. On average, analysts anticipate that SoundThinking will post -0.42 EPS for the current fiscal year.

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.