SoundThinking (NASDAQ:SSTI) Downgraded to “Hold” Rating by Craig Hallum

Craig Hallum lowered shares of SoundThinking (NASDAQ:SSTI) from a buy rating to a hold rating in a report released on Thursday, Marketbeat.com reports. Craig Hallum currently has $10.00 price target on the stock.

Other analysts have also issued reports about the stock. Lake Street Capital cut their target price on shares of SoundThinking from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Wall Street Zen downgraded SoundThinking from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SoundThinking in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SoundThinking currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

SoundThinking Stock Down 3.2%

NASDAQ:SSTI traded down $0.23 during trading hours on Thursday, reaching $7.01. 283,931 shares of the stock were exchanged, compared to its average volume of 68,299. The stock has a market capitalization of $89.66 million, a P/E ratio of -8.87 and a beta of 1.17. The firm has a 50 day simple moving average of $10.92 and a 200-day simple moving average of $12.87. SoundThinking has a 52 week low of $6.29 and a 52 week high of $19.43.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Wednesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.09). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $27.97 million. SoundThinking has set its FY 2025 guidance at EPS. As a group, analysts expect that SoundThinking will post -0.42 earnings per share for the current year.

Insider Activity

In related news, CEO Ralph A. Clark sold 16,161 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $11.80, for a total value of $190,699.80. Following the transaction, the chief executive officer directly owned 588,638 shares of the company’s stock, valued at approximately $6,945,928.40. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 18,925 shares of company stock worth $223,967. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

Several hedge funds and other institutional investors have recently made changes to their positions in SSTI. Kopion Asset Management LLC boosted its position in shares of SoundThinking by 8.9% in the third quarter. Kopion Asset Management LLC now owns 638,938 shares of the company’s stock valued at $7,706,000 after acquiring an additional 52,286 shares during the period. Wasatch Advisors LP raised its stake in SoundThinking by 42.9% during the 2nd quarter. Wasatch Advisors LP now owns 534,237 shares of the company’s stock valued at $6,974,000 after purchasing an additional 160,451 shares during the last quarter. Yost Capital Management LP boosted its holdings in SoundThinking by 62.3% in the 3rd quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock valued at $3,524,000 after purchasing an additional 112,200 shares during the period. Harvey Partners LLC grew its position in SoundThinking by 3.0% in the 2nd quarter. Harvey Partners LLC now owns 277,107 shares of the company’s stock worth $3,618,000 after purchasing an additional 8,107 shares during the last quarter. Finally, Pullen Investment Management LLC grew its position in SoundThinking by 16.4% in the 3rd quarter. Pullen Investment Management LLC now owns 186,990 shares of the company’s stock worth $2,255,000 after purchasing an additional 26,337 shares during the last quarter. 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.