SoundThinking (NASDAQ:SSTI) Share Price Passes Below 50 Day Moving Average – Should You Sell?

SoundThinking, Inc. (NASDAQ:SSTI) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.69 and traded as low as $5.85. SoundThinking shares last traded at $6.11, with a volume of 55,437 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research upgraded SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Citizens Jmp reiterated a “market perform” rating on shares of SoundThinking in a research note on Friday, August 14th. Cantor Fitzgerald decreased their target price on shares of SoundThinking from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Wall Street Zen cut shares of SoundThinking from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Lake Street Capital cut shares of SoundThinking from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SoundThinking presently has a consensus rating of “Hold” and an average target price of $10.83.

SoundThinking Stock Performance

The stock has a fifty day simple moving average of $7.69 and a two-hundred day simple moving average of $7.27. The stock has a market cap of $79.12 million, a price-to-earnings ratio of -4.74 and a beta of 1.16.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.12). SoundThinking had a negative return on equity of 23.77% and a negative net margin of 16.92%.The business had revenue of $23.89 million for the quarter, compared to analyst estimates of $25.77 million. Equities analysts expect that SoundThinking, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of SoundThinking in the 2nd quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its position in SoundThinking by 160.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock worth $33,000 after purchasing an additional 1,688 shares in the last quarter. Royal Bank of Canada increased its position in SoundThinking by 88.6% during the 1st quarter. Royal Bank of Canada now owns 4,173 shares of the company’s stock worth $28,000 after purchasing an additional 1,960 shares in the last quarter. Strs Ohio bought a new position in SoundThinking in the 1st quarter valued at approximately $127,000. Finally, Versant Capital Management Inc lifted its stake in SoundThinking by 31.7% in the 2nd quarter. Versant Capital Management Inc now owns 9,305 shares of the company’s stock valued at $84,000 after purchasing an additional 2,239 shares during the last quarter. Institutional investors 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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.