SoundThinking (NASDAQ:SSTI) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of SoundThinking (NASDAQ:SSTI) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

SSTI has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SoundThinking in a research report on Friday, March 27th. Wall Street Zen raised SoundThinking from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, SoundThinking has a consensus rating of “Hold” and a consensus price target of $14.00.

SoundThinking Stock Performance

SSTI stock opened at $6.64 on Wednesday. The stock’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $7.19. SoundThinking has a fifty-two week low of $5.78 and a fifty-two week high of $16.92. The company has a market cap of $85.99 million, a P/E ratio of -5.72 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last posted its earnings results 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). SoundThinking had a negative net margin of 14.95% and a negative return on equity of 20.76%. The company had revenue of $24.18 million during the quarter, compared to the consensus estimate of $24.27 million. Equities analysts predict that SoundThinking will post -0.69 earnings per share for the current year.

Insider Transactions at SoundThinking

In other news, major shareholder Veradace Partners Lp bought 15,773 shares of SoundThinking stock in a transaction that occurred on Tuesday, February 24th. The shares were acquired at an average price of $7.14 per share, with a total value of $112,619.22. Following the completion of the purchase, the insider directly owned 2,039,905 shares in the company, valued at $14,564,921.70. The trade was a 0.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

Several hedge funds have recently added to or reduced their stakes in SSTI. Kopion Asset Management LLC increased its holdings in shares of SoundThinking by 52.1% in the fourth quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock worth $7,806,000 after buying an additional 333,170 shares during the period. Quantinno Capital Management LP increased its holdings in shares of SoundThinking by 264.8% in the first quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock worth $1,566,000 after buying an additional 171,733 shares during the period. Wasatch Advisors LP increased its holdings in shares of SoundThinking by 42.9% in the second quarter. Wasatch Advisors LP now owns 534,237 shares of the company’s stock worth $6,974,000 after buying an additional 160,451 shares during the period. Yost Capital Management LP increased its holdings in shares of SoundThinking by 62.3% in the third quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock worth $3,524,000 after buying an additional 112,200 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of SoundThinking by 50.2% in the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company’s stock worth $1,640,000 after buying an additional 67,981 shares during the period. Institutional investors own 60.74% of the company’s stock.

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.