SoundThinking (NASDAQ:SSTI) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded SoundThinking from a "sell" to a "hold"; the stock's analyst mix is mixed (3 buys, 3 holds, 1 sell) with a consensus price target of $14.
• SoundThinking is trading around $6.66 with a market cap of about $86.3M, posted a Q (EPS) loss of ($0.22) vs. ($0.20) expected, and analysts forecast roughly -$0.42 EPS for the year.
• Insider buying: Veradace Partners purchased 105,880 shares at ~$7.14, raising its stake to 2,008,368 shares; insiders own 10.4% and institutional investors hold about 60.7% of the company.

SoundThinking (NASDAQ:SSTI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other brokerages have also recently issued reports on SSTI. Weiss Ratings reiterated a "sell (e+)" rating on shares of SoundThinking in a report on Friday, March 27th. Cantor Fitzgerald lowered shares of SoundThinking from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $16.00 to $10.00 in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SoundThinking has an average rating of "Hold" and a consensus price target of $14.00.

SoundThinking Price Performance

SSTI opened at $6.66 on Friday. The stock's fifty day moving average is $7.00 and its two-hundred day moving average is $8.30. The company has a market capitalization of $86.25 million, a P/E ratio of -9.00 and a beta of 1.21. SoundThinking has a 52 week low of $5.78 and a 52 week high of $17.43.

SoundThinking (NASDAQ:SSTI - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). SoundThinking had a negative return on equity of 12.73% and a negative net margin of 9.05%.The firm had revenue of $24.79 million during the quarter, compared to analysts' expectations of $24.68 million. Equities analysts anticipate that SoundThinking will post -0.42 earnings per share for the current year.

Insider Activity

In related news, major shareholder Veradace Partners Lp purchased 105,880 shares of SoundThinking stock in a transaction dated Wednesday, February 18th. The stock was purchased at an average cost of $7.14 per share, with a total value of $755,983.20. Following the transaction, the insider owned 2,008,368 shares in the company, valued at approximately $14,339,747.52. The trade was a 5.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 137,417 shares of company stock valued at $979,843. Company insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On SoundThinking

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in SoundThinking in the third quarter worth about $31,000. BNP Paribas Financial Markets boosted its holdings in shares of SoundThinking by 160.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company's stock valued at $33,000 after buying an additional 1,688 shares in the last quarter. State of Wyoming purchased a new position in shares of SoundThinking in the 2nd quarter worth approximately $33,000. Wells Fargo & Company MN grew its position in shares of SoundThinking by 78.1% in the 4th quarter. Wells Fargo & Company MN now owns 10,448 shares of the company's stock worth $84,000 after buying an additional 4,580 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of SoundThinking during the 4th quarter worth approximately $87,000. Hedge funds and other institutional investors 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. 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.