SoundThinking (NASDAQ:SSTI) Stock Rating Lowered by Zacks Research

SoundThinking (NASDAQ:SSTI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on SSTI. Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a report on Friday, March 27th. Wall Street Zen raised shares of SoundThinking from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.00.

SoundThinking Trading Down 3.3%

Shares of NASDAQ:SSTI opened at $6.64 on Wednesday. SoundThinking has a 1-year low of $5.78 and a 1-year high of $16.92. The firm has a market capitalization of $85.99 million, a PE ratio of -5.72 and a beta of 1.17. The business’s 50 day moving average is $6.68 and its 200-day moving average is $7.19.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Thursday, May 14th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The firm had revenue of $24.18 million during the quarter, compared to analyst estimates of $24.27 million. SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. On average, sell-side analysts predict that SoundThinking will post -0.69 EPS for the current year.

Insider Activity

In other news, major shareholder Veradace Partners Lp bought 15,773 shares of SoundThinking stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of $7.14 per share, for a total transaction of $112,619.22. Following the purchase, the insider owned 2,039,905 shares of the company’s stock, valued at approximately $14,564,921.70. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently added to or reduced their stakes in SSTI. Royal Bank of Canada boosted its position in SoundThinking by 88.6% in the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after buying an additional 1,960 shares in the last quarter. BNP Paribas Financial Markets grew 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 buying an additional 1,688 shares during the last quarter. State of Wyoming bought a new position in shares of SoundThinking in the second quarter valued at approximately $33,000. Wells Fargo & Company MN raised its stake in shares of SoundThinking by 78.1% in the fourth quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock valued at $84,000 after acquiring an additional 4,580 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of SoundThinking in the 4th quarter worth approximately $87,000. 60.74% of the stock is owned by institutional investors.

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.