S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68
S&P 500   3,901.36
DOW   31,261.90
QQQ   288.68

Zacks Investment Research Downgrades ShotSpotter (NASDAQ:SSTI) to Sell

Saturday, May 14, 2022 | MarketBeat

ShotSpotter (NASDAQ:SSTI - Get Rating) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, "ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company's product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. "

Separately, Lake Street Capital decreased their price target on shares of ShotSpotter from $42.00 to $29.00 in a research note on Wednesday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $46.00.

NASDAQ SSTI opened at $28.02 on Friday. The firm has a market cap of $340.22 million, a price-to-earnings ratio of -80.06 and a beta of 1.24. The company has a 50 day moving average of $27.84 and a 200-day moving average of $29.70. ShotSpotter has a 1-year low of $22.63 and a 1-year high of $51.50.

ShotSpotter (NASDAQ:SSTI - Get Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The firm had revenue of $13.97 million for the quarter, compared to analyst estimates of $16.03 million. ShotSpotter had a negative return on equity of 6.17% and a negative net margin of 6.41%. Research analysts expect that ShotSpotter will post -0.03 earnings per share for the current year.

In other news, Director Randall Hawks bought 6,695 shares of the business's stock in a transaction on Wednesday, March 9th. The shares were bought at an average cost of $29.82 per share, for a total transaction of $199,644.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 847 shares of company stock worth $23,068. Insiders own 10.60% of the company's stock.

Large investors have recently modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of ShotSpotter by 100.7% during the third quarter. Citigroup Inc. now owns 1,130 shares of the company's stock worth $41,000 after acquiring an additional 567 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of ShotSpotter by 373.6% during the third quarter. BNP Paribas Arbitrage SA now owns 1,648 shares of the company's stock worth $60,000 after acquiring an additional 1,300 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of ShotSpotter by 18.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,047 shares of the company's stock worth $90,000 after acquiring an additional 469 shares during the period. Marshall Wace LLP acquired a new stake in shares of ShotSpotter during the first quarter worth $110,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ShotSpotter during the third quarter worth $120,000. Institutional investors and hedge funds own 59.20% of the company's stock.

About ShotSpotter (Get Rating)

ShotSpotter, Inc provides precision-policing and security solutions for law enforcement and security personnel in the United States, South Africa, and the Bahamas. Its solutions include ShotSpotter Respond, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Connect, a patrol management software to help plan directed patrols and tactics to deter a broad set of crime types.

Further Reading

Get a free copy of the Zacks research report on ShotSpotter (SSTI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ShotSpotter (NASDAQ:SSTI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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