BlackRock Inc. Takes $3.24 Million Position in SoundThinking, Inc. $SSTI

Key Points

• BlackRock acquired 358,065 shares of SoundThinking in the second quarter, worth approximately $3.24 million and representing about 2.76% of the company. Institutional investors collectively own 60.74% of SSTI.
• Analysts maintain a generally cautious outlook, with one Buy, five Hold, and one Sell rating. The consensus price target is $10.83, while Cantor Fitzgerald recently reduced its target to $8.00.
• SoundThinking reported a quarterly loss of $0.37 per share, missing the $0.25 consensus estimate, while revenue of $23.89 million also fell short of expectations. Shares opened at $6.11, near the company’s $5.52 one-year low.

BlackRock Inc. purchased a new position in shares of SoundThinking, Inc. (NASDAQ:SSTI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 358,065 shares of the company's stock, valued at approximately $3,240,000. BlackRock Inc. owned about 2.76% of SoundThinking as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SSTI. Rice Hall James & Associates LLC purchased a new position in shares of SoundThinking in the second quarter worth about $4,225,000. Quantinno Capital Management LP boosted its position 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 buying an additional 171,733 shares during the period. Wasatch Advisors LP increased its position in shares of SoundThinking by 42.9% in the second quarter. Wasatch Advisors LP now owns 534,237 shares of the company's stock valued at $6,974,000 after acquiring an additional 160,451 shares during the period. Kopion Asset Management LLC raised its stake in shares of SoundThinking by 14.6% during the second quarter. Kopion Asset Management LLC now owns 1,114,648 shares of the company's stock valued at $10,088,000 after acquiring an additional 142,346 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of SoundThinking by 50.2% during the fourth quarter. Mackenzie Financial Corp now owns 203,411 shares of the company's stock worth $1,640,000 after purchasing an additional 67,981 shares during the period. 60.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SSTI. Citizens Jmp reaffirmed a "market perform" rating on shares of SoundThinking in a research report on Friday, August 14th. Roth Capital set a $13.00 price target on shares of SoundThinking in a research report on Friday, August 14th. Zacks Research raised shares of SoundThinking from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of SoundThinking from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Cantor Fitzgerald cut their price objective on SoundThinking from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, SoundThinking has an average rating of "Hold" and a consensus price target of $10.83.

SoundThinking Price Performance

Shares of NASDAQ:SSTI opened at $6.11 on Friday. The business has a fifty day moving average price of $7.69 and a 200-day moving average price of $7.27. The company has a market capitalization of $79.12 million, a PE ratio of -4.74 and a beta of 1.16. SoundThinking, Inc. has a 1-year low of $5.52 and a 1-year high of $13.28.

SoundThinking (NASDAQ:SSTI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.12). SoundThinking had a negative net margin of 16.92% and a negative return on equity of 23.77%. The business had revenue of $23.89 million during the quarter, compared to the consensus estimate of $25.77 million. On average, sell-side analysts anticipate that SoundThinking, Inc. will post -1.06 earnings per share for the current fiscal year.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.