SoundThinking, Inc. (NASDAQ:SSTI) Short Interest Up 20.1% in November

SoundThinking, Inc. (NASDAQ:SSTI) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 175,300 shares, an increase of 20.1% from the November 15th total of 146,000 shares. Based on an average daily trading volume, of 57,500 shares, the short-interest ratio is currently 3.0 days. Approximately 1.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts recently commented on SSTI shares. Cantor Fitzgerald upgraded shares of SoundThinking to a “strong-buy” rating in a research report on Thursday, November 14th. JMP Securities lowered their price target on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Craig Hallum cut their price objective on SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.20.

Insider Transactions at SoundThinking

In other news, CFO Alan R. Stewart sold 15,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.95, for a total value of $209,250.00. Following the completion of the transaction, the chief financial officer now owns 138,851 shares in the company, valued at $1,936,971.45. This trade represents a 9.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 19,688 shares of company stock valued at $267,576. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after buying an additional 17,591 shares in the last quarter. Disciplined Growth Investors Inc. MN purchased a new stake in shares of SoundThinking during the third quarter valued at approximately $5,354,000. State Street Corp lifted its position in shares of SoundThinking by 4.3% during the third 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 boosted its stake in shares of SoundThinking by 61.9% in the third quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock valued at $602,000 after purchasing an additional 19,861 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in SoundThinking by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after purchasing an additional 5,236 shares in the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Stock Performance

NASDAQ SSTI traded down $0.35 during trading hours on Friday, hitting $12.48. 34,006 shares of the company’s stock were exchanged, compared to its average volume of 53,247. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92. The business’s 50 day moving average is $11.95 and its 200-day moving average is $12.93.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $26.25 million for the quarter, compared to analysts’ expectations of $26.20 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.74%. During the same period last year, the firm posted ($0.09) EPS. On average, research analysts predict that SoundThinking will post -0.39 earnings per share for the current year.

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.