SoundThinking (NASDAQ:SSTI) Downgraded by Wall Street Zen to Sell

Key Points

• SoundThinking (NASDAQ:SSTI) was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, signaling a bearish outlook from analysts.
• The company reported earnings per share of ($0.24), missing expectations by $0.15, with a consensus price target of $20.80 remaining despite mixed ratings from other analysts.
• Insider selling activity has been noted, with an executive selling shares, while institutional ownership remains strong at 60.74%.

SoundThinking (NASDAQ:SSTI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also commented on SSTI. Roth Mkm reissued a "buy" rating and issued a $30.00 price target on shares of SoundThinking in a research report on Wednesday, May 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 price objective on shares of SoundThinking in a research note on Wednesday, May 14th. Finally, Lake Street Capital reduced their price objective on SoundThinking from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.80.

SoundThinking Price Performance

Shares of SSTI opened at $12.76 on Friday. The stock has a 50-day moving average of $13.45 and a 200-day moving average of $14.82. The company has a market cap of $163.20 million, a PE ratio of -16.15 and a beta of 1.26. SoundThinking has a one year low of $9.33 and a one year high of $19.43.

SoundThinking (NASDAQ:SSTI - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.15). SoundThinking had a negative return on equity of 13.76% and a negative net margin of 9.74%. The firm had revenue of $25.89 million for the quarter, compared to analyst estimates of $26.61 million. Analysts expect that SoundThinking will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at SoundThinking

In other news, insider Nasim Golzadeh sold 1,809 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $15.46, for a total transaction of $27,967.14. Following the completion of the transaction, the insider owned 94,134 shares in the company, valued at approximately $1,455,311.64. This represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 3,474 shares of company stock worth $53,205. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC bought a new position in shares of SoundThinking during the 1st quarter worth $98,000. Strs Ohio purchased a new stake in SoundThinking during the 1st quarter worth about $127,000. R Squared Ltd purchased a new stake in SoundThinking during the 2nd quarter worth about $156,000. GAMMA Investing LLC lifted its holdings in SoundThinking by 6,553.7% during the 1st quarter. GAMMA Investing LLC now owns 13,374 shares of the company's stock worth $227,000 after purchasing an additional 13,173 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in SoundThinking by 10.1% during the 1st quarter. Rhumbline Advisers now owns 14,980 shares of the company's stock worth $254,000 after purchasing an additional 1,373 shares in the last quarter. Institutional investors own 60.74% of the company's stock.

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.

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