SoundThinking (NASDAQ:SSTI) Lowered to Hold Rating by Craig Hallum

SoundThinking (NASDAQ:SSTI) was downgraded by equities researchers at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued on Thursday, MarketBeat.com reports. They currently have a $10.00 price objective on the stock. Craig Hallum’s price target would suggest a potential upside of 44.20% from the company’s previous close.

Several other equities analysts also recently commented on SSTI. Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Wall Street Zen cut shares of SoundThinking from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Lake Street Capital reduced their target price on shares of SoundThinking from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SoundThinking in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.20.

SoundThinking Price Performance

NASDAQ:SSTI traded down $1.50 during trading hours on Thursday, reaching $6.94. 202,125 shares of the stock were exchanged, compared to its average volume of 65,229. The stock has a market cap of $88.71 million, a PE ratio of -8.78 and a beta of 1.17. The firm has a 50 day moving average of $11.11 and a 200 day moving average of $12.97. SoundThinking has a twelve month low of $6.29 and a twelve month high of $19.43.

SoundThinking (NASDAQ:SSTI) last issued its earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. The firm had revenue of $25.10 million during the quarter, compared to analyst estimates of $27.97 million. SoundThinking has set its FY 2025 guidance at EPS. Equities research analysts anticipate that SoundThinking will post -0.42 earnings per share for the current year.

Insider Transactions at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 16,161 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total value of $190,699.80. Following the completion of the sale, the chief executive officer owned 588,638 shares in the company, valued at approximately $6,945,928.40. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 18,925 shares of company stock valued at $223,967. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

Several institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in SoundThinking by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after acquiring an additional 980 shares during the period. Pullen Investment Management LLC boosted its stake in SoundThinking by 1.0% during the second quarter. Pullen Investment Management LLC now owns 160,653 shares of the company’s stock valued at $2,097,000 after buying an additional 1,515 shares during the period. Cubist Systematic Strategies LLC grew its position in SoundThinking by 9.7% during the first quarter. Cubist Systematic Strategies LLC now owns 23,068 shares of the company’s stock worth $391,000 after buying an additional 2,033 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in SoundThinking by 3.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,931 shares of the company’s stock worth $1,236,000 after acquiring an additional 2,198 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of SoundThinking during the 2nd quarter valued at about $33,000. Hedge funds and other 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.