ShotSpotter (NASDAQ:SSTI) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of ShotSpotter (NASDAQ:SSTI) from a hold rating to a sell rating in a report published on Saturday morning, Zacks.com reports.

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. “

Other analysts have also issued research reports about the stock. Craig Hallum raised shares of ShotSpotter from a hold rating to a buy rating and raised their price objective for the stock from $40.00 to $45.00 in a report on Wednesday, May 12th. Northland Securities raised their price objective on shares of ShotSpotter from $40.00 to $49.00 and gave the stock an outperform rating in a report on Friday, February 26th. Finally, Roth Capital raised their price target on shares of ShotSpotter from $41.00 to $53.00 and gave the company a buy rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $40.17.

Shares of SSTI opened at $38.86 on Friday. The stock has a market cap of $453.73 million, a price-to-earnings ratio of 168.96, a P/E/G ratio of 11.58 and a beta of 1.52. The company has a 50-day moving average price of $34.91 and a two-hundred day moving average price of $38.39. ShotSpotter has a 12 month low of $21.55 and a 12 month high of $53.97.

ShotSpotter (NASDAQ:SSTI) last posted its quarterly earnings data on Tuesday, May 11th. The company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. ShotSpotter had a net margin of 6.30% and a return on equity of 9.66%. On average, analysts expect that ShotSpotter will post 0.16 earnings per share for the current fiscal year.

In other ShotSpotter news, Director Thomas T. Groos sold 50,000 shares of ShotSpotter stock in a transaction on Friday, March 5th. The shares were sold at an average price of $36.81, for a total transaction of $1,840,500.00. Following the completion of the sale, the director now owns 294,135 shares of the company’s stock, valued at approximately $10,827,109.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alan R. Stewart bought 4,500 shares of the stock in a transaction on Wednesday, March 3rd. The shares were acquired at an average cost of $38.00 per share, with a total value of $171,000.00. Following the acquisition, the chief financial officer now directly owns 72,562 shares in the company, valued at approximately $2,757,356. The disclosure for this purchase can be found here. In the last three months, insiders sold 82,014 shares of company stock valued at $3,027,764. 11.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSTI. Marshall Wace LLP acquired a new stake in ShotSpotter during the 1st quarter worth $110,000. Handelsinvest Investeringsforvaltning grew its holdings in ShotSpotter by 20.0% during the 4th quarter. Handelsinvest Investeringsforvaltning now owns 90,000 shares of the company’s stock worth $3,393,000 after acquiring an additional 15,000 shares during the period. Blair William & Co. IL grew its holdings in ShotSpotter by 17.3% during the 4th quarter. Blair William & Co. IL now owns 77,009 shares of the company’s stock worth $2,903,000 after acquiring an additional 11,385 shares during the period. Bank of New York Mellon Corp boosted its position in shares of ShotSpotter by 6.1% during the fourth quarter. Bank of New York Mellon Corp now owns 36,599 shares of the company’s stock worth $1,381,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of ShotSpotter by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 31,533 shares of the company’s stock worth $1,189,000 after purchasing an additional 7,568 shares in the last quarter. 62.09% of the stock is owned by hedge funds and other institutional investors.

About ShotSpotter

ShotSpotter, Inc provides precision-policing and security solutions for law enforcement and security personnel in the United States, South Africa, and the Bahamas. Its solutions include ShotSpotter Respond, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Connect, a patrol management software to help plan directed patrols and tactics for crime deterrence.

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