Brokerages Set SoundThinking, Inc. (NASDAQ:SSTI) PT at $21.20

Shares of SoundThinking, Inc. (NASDAQ:SSTI) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $21.20.

Several research firms have issued reports on SSTI. Craig Hallum lowered their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Cantor Fitzgerald raised SoundThinking to a “strong-buy” rating in a research report on Thursday, November 14th. Finally, JMP Securities dropped their target price on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 13th.

SoundThinking Stock Performance

Shares of NASDAQ SSTI opened at $13.44 on Thursday. The company has a market cap of $169.20 million, a P/E ratio of -111.99 and a beta of 1.18. The firm’s fifty day moving average is $12.31 and its two-hundred day moving average is $12.72. SoundThinking has a 52-week low of $9.33 and a 52-week high of $24.44.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $26.25 million for the quarter, compared to the consensus estimate of $26.20 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. During the same period in the prior year, the firm posted ($0.09) EPS. As a group, analysts forecast that SoundThinking will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other SoundThinking news, CEO Ralph A. Clark sold 5,933 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.61, for a total value of $68,882.13. Following the transaction, the chief executive officer now directly owns 520,774 shares of the company’s stock, valued at $6,046,186.14. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alan R. Stewart sold 15,000 shares of SoundThinking stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $13.95, for a total transaction of $209,250.00. Following the transaction, the chief financial officer now directly owns 138,851 shares in the company, valued at $1,936,971.45. This trade represents a 9.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,621 shares of company stock valued at $336,458 over the last ninety days. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSTI. Disciplined Growth Investors Inc. MN acquired a new position in SoundThinking in the third quarter valued at approximately $5,354,000. Federated Hermes Inc. boosted its position in shares of SoundThinking by 14.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after purchasing an additional 190,000 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in SoundThinking by 56.6% in the third quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock valued at $4,197,000 after purchasing an additional 130,913 shares during the last quarter. Pullen Investment Management LLC lifted its holdings in shares of SoundThinking by 70.0% in the third quarter. Pullen Investment Management LLC now owns 88,152 shares of the company’s stock valued at $1,022,000 after purchasing an additional 36,290 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in SoundThinking in the 2nd quarter valued at approximately $398,000. Hedge funds and other 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.