SoundThinking (NASDAQ:SSTI) Raised to “Strong-Buy” at Cantor Fitzgerald

SoundThinking (NASDAQ:SSTI) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on SSTI. JMP Securities cut their price target on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday. Craig Hallum cut their price target on SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday. Two research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

Shares of SoundThinking stock traded down $0.09 on Thursday, reaching $11.43. 60,736 shares of the company’s stock were exchanged, compared to its average volume of 61,070. The company has a market capitalization of $146.08 million, a P/E ratio of -95.24 and a beta of 1.17. SoundThinking has a 52 week low of $9.33 and a 52 week high of $26.92. The firm’s 50-day moving average is $11.70 and its two-hundred day moving average is $13.17.

Insider Transactions at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 14,327 shares of company stock valued at $199,955 over the last ninety days. 9.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundThinking

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in shares of SoundThinking by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after purchasing an additional 5,236 shares during the last quarter. Rhumbline Advisers increased its position in shares of SoundThinking by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after purchasing an additional 716 shares during the last quarter. Ibex Investors LLC purchased a new stake in shares of SoundThinking during the 2nd quarter valued at $171,000. Cim LLC increased its position in shares of SoundThinking by 18.5% during the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after purchasing an additional 3,094 shares during the last quarter. Finally, Barclays PLC increased its position in shares of SoundThinking by 245.5% during the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after purchasing an additional 17,591 shares during the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

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.