SoundThinking (NASDAQ:SSTI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of SoundThinking (NASDAQ:SSTI) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

SSTI has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a research note on Friday, March 27th. Cantor Fitzgerald lowered SoundThinking from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $10.00 in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.00.

SoundThinking Stock Performance

SSTI opened at $6.66 on Friday. The company has a market cap of $86.27 million, a P/E ratio of -9.00 and a beta of 1.21. The company’s 50 day moving average is $7.00 and its 200-day moving average is $8.28. SoundThinking has a 1-year low of $5.78 and a 1-year high of $17.43.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). SoundThinking had a negative return on equity of 12.73% and a negative net margin of 9.05%.The company had revenue of $24.79 million for the quarter, compared to analyst estimates of $24.68 million. On average, equities analysts forecast that SoundThinking will post -0.42 EPS for the current year.

Insider Transactions at SoundThinking

In other SoundThinking news, major shareholder Veradace Partners Lp purchased 105,880 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was purchased at an average cost of $7.14 per share, for a total transaction of $755,983.20. Following the transaction, the insider owned 2,008,368 shares in the company, valued at $14,339,747.52. The trade was a 5.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have purchased 137,417 shares of company stock valued at $979,843. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of SoundThinking

Several institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in SoundThinking during the 2nd quarter worth $33,000. Meeder Asset Management Inc. bought a new stake in shares of SoundThinking in the 3rd quarter valued at about $31,000. BNP Paribas Financial Markets increased 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 valued at $33,000 after buying an additional 1,688 shares during the period. Strs Ohio acquired a new stake in shares of SoundThinking in the first quarter valued at about $127,000. Finally, Corient Private Wealth LLC bought a new position in shares of SoundThinking during the second quarter worth about $132,000. Institutional investors own 60.74% of the company’s stock.

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.