SoundThinking (NASDAQ:SSTI) Downgraded by Zacks Research to Strong Sell

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

A number of other analysts have also recently weighed in on SSTI. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a research note on Friday, March 27th. Wall Street Zen upgraded shares of SoundThinking from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

SoundThinking Stock Performance

SSTI opened at $6.64 on Wednesday. The company has a market cap of $85.99 million, a PE ratio of -5.72 and a beta of 1.17. The stock has a 50-day moving average of $6.68 and a 200-day moving average of $7.19. SoundThinking has a 52-week low of $5.78 and a 52-week high of $16.92.

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

Insider Buying and Selling

In other SoundThinking news, major shareholder Veradace Partners Lp purchased 15,773 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were bought at an average cost of $7.14 per share, with a total value of $112,619.22. Following the transaction, the insider directly owned 2,039,905 shares in the company, valued at approximately $14,564,921.70. This represents a 0.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoundThinking

Several hedge funds have recently modified their holdings of SSTI. Bank of America Corp DE increased its position in SoundThinking by 16.2% during the first quarter. Bank of America Corp DE now owns 14,299 shares of the company’s stock worth $95,000 after acquiring an additional 1,992 shares during the period. Royal Bank of Canada boosted its holdings 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 period. Quantinno Capital Management LP grew its position in SoundThinking by 264.8% in the 1st quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock worth $1,566,000 after purchasing an additional 171,733 shares during the last quarter. Rice Hall James & Associates LLC grew its position in SoundThinking by 8.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 444,087 shares of the company’s stock worth $2,940,000 after purchasing an additional 36,474 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of SoundThinking during the 1st quarter worth about $92,000. 60.74% of the stock is owned by 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.