SoundThinking (NASDAQ:SSTI) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

SoundThinking, Inc. (NASDAQ:SSTI) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.69 and traded as low as $5.85. SoundThinking shares last traded at $6.11, with a volume of 55,437 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Northland Securities set a $10.00 target price on shares of SoundThinking in a research note on Friday, August 14th. Weiss Ratings downgraded shares of SoundThinking from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Wall Street Zen lowered shares of SoundThinking from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of SoundThinking in a research note on Friday, August 14th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SoundThinking has a consensus rating of “Hold” and a consensus target price of $10.83.

SoundThinking Stock Up 0.5%

The business has a 50-day moving average price of $7.69 and a 200-day moving average price of $7.27. The firm has a market capitalization of $79.15 million, a price-to-earnings ratio of -4.74 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). The business had revenue of $23.89 million for the quarter, compared to analysts’ expectations of $25.77 million. SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%. On average, equities research analysts forecast that SoundThinking, Inc. will post -1.06 earnings per share for the current year.

Institutional Trading of SoundThinking

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in SoundThinking by 88.6% in the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after purchasing an additional 1,960 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of SoundThinking by 160.5% in the 3rd 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. State of Wyoming acquired a new stake in SoundThinking during the second quarter worth $33,000. Versant Capital Management Inc raised its holdings in SoundThinking by 31.7% in the 2nd quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock valued at $84,000 after buying an additional 2,239 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of SoundThinking by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 10,448 shares of the company’s stock worth $84,000 after acquiring an additional 4,580 shares during the last quarter. 60.74% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.