SoundThinking, Inc. (NASDAQ:SSTI) Receives Average Rating of “Hold” from Analysts

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.00.

SSTI has been the subject of a number of recent research reports. Wall Street Zen upgraded SoundThinking from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 31st. Zacks Research lowered SoundThinking from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings upgraded SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday.

Hedge Funds Weigh In On SoundThinking

Several institutional investors and hedge funds have recently modified their holdings of SSTI. Strs Ohio purchased a new position in shares of SoundThinking in the 1st quarter valued at about $127,000. Rhumbline Advisers increased its stake in shares of SoundThinking by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock valued at $208,000 after purchasing an additional 980 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of SoundThinking in the 2nd quarter valued at about $245,000. Manatuck Hill Partners LLC purchased a new position in shares of SoundThinking in the 2nd quarter valued at about $402,000. Finally, Man Group plc increased its stake in shares of SoundThinking by 13.7% in the 2nd quarter. Man Group plc now owns 38,166 shares of the company’s stock valued at $498,000 after purchasing an additional 4,588 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

SoundThinking Stock Performance

NASDAQ SSTI opened at $7.98 on Friday. The stock has a 50-day simple moving average of $6.92 and a two-hundred day simple moving average of $7.18. The firm has a market capitalization of $103.34 million, a P/E ratio of -6.88 and a beta of 1.20. SoundThinking has a fifty-two week low of $5.78 and a fifty-two week high of $16.85.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The company had revenue of $24.18 million for the quarter, compared to analysts’ expectations of $24.27 million. SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. As a group, analysts forecast that SoundThinking will post -0.69 earnings per share for the current year.

SoundThinking Company Profile

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.