SoundThinking (NASDAQ:SSTI) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Cantor Fitzgerald upgraded shares of SoundThinking (NASDAQ:SSTI) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

SSTI has been the topic of several other research reports. Craig Hallum decreased their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday. JMP Securities cut their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Stock Performance

Shares of SSTI stock opened at $11.43 on Thursday. SoundThinking has a 1 year low of $9.33 and a 1 year high of $26.92. The business’s fifty day moving average is $11.70 and its 200-day moving average is $13.17. The stock has a market cap of $146.08 million, a PE ratio of -95.24 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.69% and a negative net margin of 1.39%. The business had revenue of $26.25 million during the quarter, compared to the consensus estimate of $26.20 million. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts predict that SoundThinking will post -0.38 earnings per share for the current year.

Insider Activity

In other news, CEO Ralph A. Clark sold 5,591 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the transaction, the chief executive officer now directly owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 14,327 shares of company stock worth $199,955. 9.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SSTI. Vanguard Group Inc. grew its position in SoundThinking by 6.9% in the first quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $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 first quarter worth $923,000. Bares Capital Management Inc. raised its holdings in SoundThinking by 4.9% during the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after buying an additional 36,187 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of SoundThinking by 9.0% in the second 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 during the last quarter. Finally, Pullen Investment Management LLC bought a new stake in shares of SoundThinking during the 2nd quarter worth about $632,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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.