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

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

A number of other research analysts have also recently weighed in on the stock. Craig Hallum dropped their target price on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday. JMP Securities reduced their target price on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

SoundThinking stock opened at $11.43 on Thursday. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92. The stock has a market cap of $146.08 million, a PE ratio of -95.24 and a beta of 1.17. The firm’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $13.17.

Insider Activity

In related news, CEO Ralph A. Clark sold 5,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the completion of the transaction, the chief executive officer now directly owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 14,327 shares of company stock valued at $199,955 in the last three months. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN bought a new position in SoundThinking in the 3rd quarter worth approximately $5,354,000. Barclays PLC lifted its stake in SoundThinking by 245.5% in the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after purchasing an additional 17,591 shares in the last quarter. State Street Corp lifted its stake in SoundThinking by 4.3% in the 3rd quarter. State Street Corp now owns 197,024 shares of the company’s stock worth $2,284,000 after purchasing an additional 8,078 shares in the last quarter. Walleye Capital LLC lifted its stake in SoundThinking by 61.9% in the 3rd quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock worth $602,000 after purchasing an additional 19,861 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in SoundThinking by 145.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock worth $102,000 after purchasing an additional 5,236 shares in the last quarter. 60.74% of the stock is owned by institutional investors.

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.