Zacks Research Upgrades SoundThinking (NASDAQ:SSTI) to “Hold”

SoundThinking (NASDAQ:SSTI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on SSTI. Wall Street Zen raised SoundThinking from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 31st. Weiss Ratings raised shares of SoundThinking from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

SoundThinking Stock Down 1.9%

SoundThinking stock opened at $8.33 on Tuesday. The company has a market cap of $107.87 million, a PE ratio of -7.18 and a beta of 1.14. SoundThinking has a twelve month low of $5.78 and a twelve month high of $13.34. The company’s 50-day moving average price is $7.73 and its 200-day moving average price is $7.39.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The company had revenue of $24.18 million for the quarter, compared to the consensus estimate of $24.27 million. SoundThinking had a negative return on equity of 20.76% and a negative net margin of 14.95%. As a group, sell-side analysts expect that SoundThinking will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SSTI. Kopion Asset Management LLC lifted its stake in shares of SoundThinking by 52.1% in the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock valued at $7,806,000 after purchasing an additional 333,170 shares during the period. Versant Capital Management Inc boosted its holdings in SoundThinking by 31.7% in the 2nd quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock worth $84,000 after buying an additional 2,239 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of SoundThinking by 16.2% in the first quarter. Bank of America Corp DE now owns 14,299 shares of the company’s stock worth $95,000 after acquiring an additional 1,992 shares during the last quarter. Royal Bank of Canada boosted its stake in SoundThinking by 88.6% during the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock worth $28,000 after purchasing an additional 1,960 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in SoundThinking by 264.8% during the 1st quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock valued at $1,566,000 after acquiring an additional 171,733 shares in 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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.