SoundThinking, Inc. (NASDAQ:SSTI) Sees Significant Increase in Short Interest

SoundThinking, Inc. (NASDAQ:SSTI) saw a large increase in short interest during the month of 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. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 57,500 shares, the short-interest ratio is currently 3.0 days.

SoundThinking Price Performance

Shares of SSTI stock traded down $0.33 during trading hours on Monday, hitting $12.15. The company had a trading volume of 336,736 shares, compared to its average volume of 61,701. The company’s fifty day moving average is $11.96 and its 200 day moving average is $12.88. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92. The stock has a market capitalization of $152.97 million, a PE ratio of -101.24 and a beta of 1.19.

SoundThinking (NASDAQ:SSTI) last released its 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). SoundThinking had a negative return on equity of 8.74% and a negative net margin of 1.39%. The business had revenue of $26.25 million for the quarter, compared to analyst estimates of $26.20 million. During the same quarter last year, the company earned ($0.09) earnings per share. Equities analysts forecast that SoundThinking will post -0.39 earnings per share for the current year.

Insider Activity

In other SoundThinking news, CFO Alan R. Stewart sold 15,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.95, for a total value of $209,250.00. Following the completion of the sale, the chief financial officer now owns 138,851 shares in the company, valued at approximately $1,936,971.45. This represents a 9.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 19,688 shares of company stock valued at $267,576. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

Large investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in SoundThinking by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after purchasing an additional 716 shares during the last quarter. Cim LLC increased its holdings in SoundThinking by 18.5% during the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after acquiring an additional 3,094 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SoundThinking by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock valued at $482,000 after buying an additional 3,268 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of SoundThinking by 145.2% during the third quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after buying an additional 5,236 shares during the period. Finally, State Street Corp lifted its stake in shares of SoundThinking by 4.3% during the third quarter. State Street Corp now owns 197,024 shares of the company’s stock valued at $2,284,000 after buying an additional 8,078 shares during the period. 60.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SSTI. JMP Securities cut their price objective on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 13th. Craig Hallum cut their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald upgraded shares of SoundThinking to a “strong-buy” rating in a research note on Thursday, November 14th. Two research 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 company. Based on data from MarketBeat, SoundThinking presently has an average rating of “Moderate Buy” and a consensus price target of $21.20.

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.