SoundThinking, Inc. (NASDAQ:SSTI) Short Interest Update

SoundThinking, Inc. (NASDAQ:SSTI) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 150,100 shares, a decrease of 31.2% from the October 15th total of 218,300 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 59,000 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

Several research firms have weighed in on SSTI. JMP Securities reduced their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday. Cantor Fitzgerald upgraded shares of SoundThinking to a “strong-buy” rating in a report on Thursday. Finally, Craig Hallum reduced their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SoundThinking presently has an average rating of “Moderate Buy” and a consensus target price of $21.20.

SoundThinking Stock Performance

NASDAQ SSTI traded down $0.09 during trading on Friday, hitting $11.43. The stock had a trading volume of 60,736 shares, compared to its average volume of 61,070. The company has a market capitalization of $146.08 million, a PE ratio of -95.24 and a beta of 1.17. SoundThinking has a 12 month low of $9.33 and a 12 month high of $26.92. The company’s 50-day moving average price is $11.70 and its two-hundred day moving average price is $13.17.

SoundThinking (NASDAQ:SSTI) last announced its 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 for the quarter, compared to analyst estimates of $26.20 million. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, equities analysts anticipate that SoundThinking will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total value of $88,373.56. Following the completion of the sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This 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 accessible through the SEC website. Insiders have sold a total of 14,327 shares of company stock valued at $199,955 in the last 90 days. 9.20% of the stock is owned by company insiders.

Institutional Trading of SoundThinking

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of SoundThinking by 145.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after acquiring an additional 5,236 shares during the period. Rhumbline Advisers increased its position in SoundThinking by 5.4% during the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after buying an additional 716 shares during the last quarter. Ibex Investors LLC bought a new stake in SoundThinking in the second quarter valued at approximately $171,000. Cim LLC lifted its position in shares of SoundThinking by 18.5% in the second quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after buying an additional 3,094 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of SoundThinking by 245.5% during the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after acquiring an additional 17,591 shares during the period. Institutional investors and hedge funds 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.