ShotSpotter Inc. (SSTI) Downgraded by Zacks Investment Research

ShotSpotter Inc. (NASDAQ:SSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “

Several other brokerages have also weighed in on SSTI. Roth Capital assumed coverage on ShotSpotter in a research report on Monday, July 10th. They issued a “buy” rating and a $18.00 price objective for the company. Northland Securities started coverage on ShotSpotter in a research report on Monday, July 3rd. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Imperial Capital started coverage on ShotSpotter in a research report on Thursday, July 27th. They set an “outperform” rating and a $16.00 price target for the company.

Shares of ShotSpotter (SSTI) opened at 11.10 on Wednesday. The firm’s 50-day moving average price is $11.58 and its 200-day moving average price is $12.65. The company’s market capitalization is $106.60 million. ShotSpotter has a 12 month low of $9.33 and a 12 month high of $15.36.

ShotSpotter (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The company had revenue of $5.84 million during the quarter, compared to the consensus estimate of $5.07 million. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period last year, the firm earned ($1.44) EPS. Equities research analysts expect that ShotSpotter will post ($0.60) EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in SSTI. K.J. Harrison & Partners Inc purchased a new position in shares of ShotSpotter during the second quarter worth $128,000. Goldman Sachs Group Inc. purchased a new position in shares of ShotSpotter during the second quarter worth $181,000. Spark Investment Management LLC purchased a new position in shares of ShotSpotter during the second quarter worth $231,000. Timpani Capital Management LLC purchased a new position in shares of ShotSpotter during the second quarter worth $885,000. Finally, Trellus Management Company LLC purchased a new position in shares of ShotSpotter during the second quarter worth $1,112,000. Institutional investors and hedge funds own 21.52% of the company’s stock.

About ShotSpotter

ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.

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