Craig Hallum Lowers SoundThinking (NASDAQ:SSTI) Price Target to $16.00

SoundThinking (NASDAQ:SSTI) had its price objective lowered by Craig Hallum from $17.50 to $16.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of SoundThinking in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Trading Down 0.8 %

Shares of SoundThinking stock opened at $11.43 on Wednesday. SoundThinking has a 52 week low of $9.33 and a 52 week high of $26.92. The firm’s 50 day moving average is $11.70 and its two-hundred day moving average is $13.17.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. The company had revenue of $26.25 million during the quarter, compared to analysts’ expectations of $26.20 million. During the same period last year, the business earned ($0.09) earnings per share. On average, sell-side analysts anticipate that SoundThinking will post -0.39 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the sale, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at $7,227,754.16. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of SoundThinking by 6.9% in the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Quadrature Capital Ltd acquired a new position in SoundThinking during the 1st quarter worth approximately $923,000. Bares Capital Management Inc. increased its position in SoundThinking by 4.9% during the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock worth $12,313,000 after purchasing an additional 36,187 shares during the period. Bank of New York Mellon Corp raised its stake in shares of SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock worth $482,000 after buying an additional 3,268 shares in the last quarter. Finally, Pullen Investment Management LLC acquired a new stake in shares of SoundThinking in the 2nd quarter valued at approximately $632,000. 60.74% of the stock is 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.