SoundThinking (NASDAQ:SSTI) Price Target Lowered to $16.00 at Craig Hallum

SoundThinking (NASDAQ:SSTI) had its target price cut by Craig Hallum from $17.50 to $16.00 in a research note published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Trading Down 0.8 %

SSTI stock opened at $11.43 on Wednesday. The firm has a 50 day moving average of $11.70 and a 200-day moving average of $13.17. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The firm had revenue of $26.25 million for the quarter, compared to analyst estimates of $26.20 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. Sell-side analysts forecast that SoundThinking will post -0.39 earnings per share for the current fiscal year.

Insider Activity at SoundThinking

In other news, CEO Ralph A. Clark sold 6,479 shares of SoundThinking stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the sale, the chief executive officer now directly owns 529,894 shares in the company, valued at $7,227,754.16. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by insiders.

Institutional Trading of SoundThinking

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in SoundThinking by 145.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after acquiring an additional 5,236 shares during the last quarter. Rhumbline Advisers grew its position in shares of SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after purchasing an additional 716 shares during the period. Ibex Investors LLC acquired a new position in SoundThinking in the second quarter valued at $171,000. Cim LLC lifted its position in SoundThinking by 18.5% during the second quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after buying an additional 3,094 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in SoundThinking in the 2nd quarter valued at about $298,000. Institutional investors and hedge funds 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.