SoundThinking (NASDAQ:SSTI) PT Lowered to $17.50 at Craig Hallum

SoundThinking (NASDAQ:SSTI) had its target price cut by Craig Hallum from $19.00 to $17.50 in a research note released on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently issued reports on SSTI. Lake Street Capital initiated coverage on shares of SoundThinking in a research report on Friday, May 24th. They issued a buy rating and a $21.00 price target for the company. Cantor Fitzgerald decreased their price objective on SoundThinking from $25.00 to $20.00 and set an overweight rating for the company in a report on Wednesday, May 15th. Roth Mkm restated a buy rating and issued a $30.00 target price on shares of SoundThinking in a report on Wednesday, May 15th. Finally, William Blair downgraded SoundThinking from an outperform rating to a market perform rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $22.13.

SoundThinking Trading Down 2.3 %

SSTI stock traded down $0.34 during mid-day trading on Wednesday, reaching $14.26. The company’s stock had a trading volume of 51,606 shares, compared to its average volume of 61,110. The company has a market cap of $182.39 million, a price-to-earnings ratio of -44.56 and a beta of 1.21. SoundThinking has a 12 month low of $11.00 and a 12 month high of $26.92. The business’s 50 day moving average price is $13.45 and its 200 day moving average price is $15.30.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). The company had revenue of $25.41 million during the quarter, compared to the consensus estimate of $25.48 million. SoundThinking had a negative net margin of 1.85% and a negative return on equity of 8.52%. During the same period last year, the firm posted ($0.15) earnings per share. As a group, equities analysts expect that SoundThinking will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its position in SoundThinking by 14.4% in the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after purchasing an additional 190,000 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in shares of SoundThinking by 70.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock worth $2,816,000 after purchasing an additional 95,492 shares during the period. Rhumbline Advisers boosted its holdings in shares of SoundThinking by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after buying an additional 716 shares during the last quarter. Pullen Investment Management LLC bought a new position in SoundThinking during the second quarter valued at about $632,000. Finally, Bank of New York Mellon Corp increased its holdings in SoundThinking by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock worth $482,000 after buying an additional 3,268 shares during the last quarter. 60.74% of the stock is owned by institutional investors.

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.