SoundThinking (NASDAQ:SSTI) Stock Rating Upgraded by Craig Hallum

Craig Hallum upgraded shares of SoundThinking (NASDAQ:SSTI) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, SoundThinking has a consensus rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Trading Up 2.9 %

NASDAQ:SSTI opened at $11.52 on Monday. The company has a 50-day moving average of $11.73 and a 200-day moving average of $13.18. SoundThinking has a twelve month low of $9.33 and a twelve month high of $26.92. The firm has a market cap of $147.26 million, a price-to-earnings ratio of -96.00 and a beta of 1.17.

Insider Activity at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the sale, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at $7,227,754.16. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 14,327 shares of company stock worth $199,955. 9.20% of the stock is owned by corporate insiders.

Institutional Trading of SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the business. Rice Hall James & Associates LLC lifted its stake in SoundThinking by 70.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock worth $2,816,000 after acquiring an additional 95,492 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of SoundThinking in the 1st quarter valued at about $923,000. Federated Hermes Inc. lifted its position in shares of SoundThinking by 14.4% in the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after purchasing an additional 190,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of SoundThinking by 6.9% during the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after purchasing an additional 32,452 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in SoundThinking during the second quarter valued at approximately $298,000. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.