Shotspotter (SSTI) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Shotspotter (NASDAQ:SSTI) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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 equities analysts have also issued reports on SSTI. BidaskClub raised Shotspotter from a buy rating to a strong-buy rating in a report on Tuesday, January 29th. National Securities lowered Shotspotter from a buy rating to a neutral rating in a report on Wednesday, February 6th. Robert W. Baird upped their target price on Shotspotter from $41.00 to $58.00 and gave the company a positive rating in a report on Wednesday, February 20th. B. Riley upped their target price on Shotspotter to $59.00 and gave the company a buy rating in a report on Wednesday, February 20th. Finally, TheStreet upgraded Shotspotter from a d rating to a c- rating in a research note on Wednesday, February 20th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Shotspotter presently has an average rating of Buy and an average target price of $52.89.



Shares of SSTI stock traded up $2.96 during trading on Wednesday, hitting $47.31. The company’s stock had a trading volume of 158,276 shares, compared to its average volume of 143,135. The firm has a market cap of $530.73 million, a PE ratio of -181.96, a P/E/G ratio of 9.88 and a beta of 3.01. Shotspotter has a 52 week low of $26.55 and a 52 week high of $66.14.

Shotspotter (NASDAQ:SSTI) last released its earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $9.59 million during the quarter, compared to analyst estimates of $9.77 million. Shotspotter had a negative return on equity of 9.63% and a negative net margin of 4.99%. Shotspotter’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. On average, equities research analysts anticipate that Shotspotter will post 0.13 earnings per share for the current year.

In related news, VP Joseph O. Hawkins sold 1,911 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $46.96, for a total value of $89,740.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pascal Levensohn sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $44.99, for a total value of $449,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,922 shares of company stock worth $5,579,359. 36.10% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of SSTI. Wells Fargo & Company MN lifted its position in shares of Shotspotter by 1,902.5% during the first quarter. Wells Fargo & Company MN now owns 368,337 shares of the company’s stock worth $14,218,000 after acquiring an additional 349,943 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Shotspotter by 480.6% during the first quarter. Blair William & Co. IL now owns 227,289 shares of the company’s stock worth $8,773,000 after acquiring an additional 188,139 shares in the last quarter. BlackRock Inc. lifted its position in shares of Shotspotter by 31.0% during the third quarter. BlackRock Inc. now owns 466,873 shares of the company’s stock worth $28,615,000 after acquiring an additional 110,611 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Shotspotter by 28.1% during the first quarter. Federated Investors Inc. PA now owns 475,910 shares of the company’s stock worth $18,370,000 after acquiring an additional 104,310 shares in the last quarter. Finally, Oak Ridge Investments LLC purchased a new stake in shares of Shotspotter during the first quarter worth $3,139,000. Hedge funds and other institutional investors own 54.31% of the company’s stock.

About Shotspotter

ShotSpotter, Inc provides precision-policing and security solutions for law enforcement and security personnel in the United States and South Africa. Its solutions include ShotSpotter Flex, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Missions, a cloud-based patrol management solution to help police departments plan patrol missions and tactics for crime deterrence.

Further Reading: Leveraged Buyout (LBO)

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