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

SoundThinking, Inc. (NASDAQ:SSTI) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.00.

SSTI has been the topic of several research reports. Cantor Fitzgerald downgraded shares of SoundThinking from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $10.00 in a research note on Wednesday, January 7th. Wall Street Zen raised shares of SoundThinking from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a research note on Friday, March 27th.

Insider Buying and Selling at SoundThinking

In other SoundThinking news, major shareholder Veradace Partners Lp purchased 105,880 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were purchased at an average cost of $7.14 per share, with a total value of $755,983.20. Following the completion of the purchase, the insider owned 2,008,368 shares in the company, valued at approximately $14,339,747.52. This represents a 5.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 137,417 shares of company stock valued at $979,843 over the last quarter. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new position in shares of SoundThinking in the second quarter worth about $33,000. Meeder Asset Management Inc. purchased a new position in shares of SoundThinking in the third quarter worth about $31,000. BNP Paribas Financial Markets lifted its stake in shares of SoundThinking by 160.5% in the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after buying an additional 1,688 shares in the last quarter. Strs Ohio purchased a new position in shares of SoundThinking in the first quarter worth about $127,000. Finally, Corient Private Wealth LLC acquired a new stake in SoundThinking during the second quarter worth about $132,000. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Stock Up 0.4%

SSTI opened at $6.82 on Thursday. The company has a market cap of $88.35 million, a price-to-earnings ratio of -9.22 and a beta of 1.21. SoundThinking has a 52-week low of $5.78 and a 52-week high of $17.43. The firm’s fifty day simple moving average is $6.89 and its two-hundred day simple moving average is $7.78.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The company had revenue of $24.79 million for the quarter, compared to analysts’ expectations of $24.68 million. SoundThinking had a negative net margin of 9.05% and a negative return on equity of 12.81%. On average, research analysts forecast that SoundThinking will post -0.45 EPS for the current 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.