SoundThinking (NASDAQ:SSTI) Downgraded by Lake Street Capital to Hold

SoundThinking (NASDAQ:SSTI) was downgraded by equities researchers at Lake Street Capital from a “buy” rating to a “hold” rating in a report issued on Friday, Marketbeat reports. They currently have a $8.00 price objective on the stock. Lake Street Capital’s price objective would suggest a potential downside of 3.26% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of SoundThinking from a “strong sell” rating to a “sell” rating in a report on Sunday, May 31st. Finally, Weiss Ratings cut SoundThinking from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SoundThinking has a consensus rating of “Hold” and an average target price of $12.80.

SoundThinking Stock Up 1.5%

SSTI stock opened at $8.27 on Friday. The stock has a market capitalization of $107.10 million, a price-to-earnings ratio of -7.13 and a beta of 1.16. SoundThinking has a 52-week low of $5.78 and a 52-week high of $13.34. The stock’s fifty day simple moving average is $8.24 and its 200-day simple moving average is $7.39.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.12). SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. The business had revenue of $23.89 million during the quarter, compared to analyst estimates of $25.77 million. As a group, analysts anticipate that SoundThinking will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of SoundThinking

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in SoundThinking by 88.6% during the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock valued at $28,000 after acquiring an additional 1,960 shares during the last quarter. BNP Paribas Financial Markets increased its position 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 worth $33,000 after purchasing an additional 1,688 shares during the last quarter. State of Wyoming bought a new stake in shares of SoundThinking in the 2nd quarter worth about $33,000. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 2,239 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake 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 valued at $84,000 after purchasing an additional 4,580 shares in the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.

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.