SoundThinking (NASDAQ:SSTI) Raised to “Hold” at Zacks Research

SoundThinking (NASDAQ:SSTI) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen raised shares of SoundThinking from a “strong sell” rating to a “sell” rating in a report on Sunday, May 31st. Three equities 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

SoundThinking Stock Performance

Shares of SoundThinking stock opened at $8.33 on Tuesday. The company has a market capitalization of $107.87 million, a PE ratio of -7.18 and a beta of 1.14. The company has a 50-day simple moving average of $7.73 and a two-hundred day simple moving average of $7.39. SoundThinking has a one year low of $5.78 and a one year high of $13.34.

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

Institutional Trading of SoundThinking

A number of institutional investors have recently bought and sold shares of the stock. Kopion Asset Management LLC increased its stake in SoundThinking by 52.1% during the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after purchasing an additional 333,170 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of SoundThinking by 31.7% in the second quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock worth $84,000 after buying an additional 2,239 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of 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 buying an additional 1,992 shares during the period. Royal Bank of Canada lifted its stake in shares of SoundThinking by 88.6% during the first quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock worth $28,000 after buying an additional 1,960 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of SoundThinking by 264.8% during the first quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock valued at $1,566,000 after buying an additional 171,733 shares during the last quarter. 60.74% of the stock is currently owned by institutional investors and hedge funds.

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.