SoundThinking, Inc. (NASDAQ:SSTI) Short Interest Update

SoundThinking, Inc. (NASDAQ:SSTI) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 643,334 shares, a growth of 35.7% from the December 31st total of 473,999 shares. Based on an average trading volume of 181,673 shares, the short-interest ratio is currently 3.5 days. Approximately 5.7% of the company’s stock are short sold. Approximately 5.7% of the company’s stock are short sold. Based on an average trading volume of 181,673 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

SSTI has been the subject of several recent analyst reports. Zacks Research upgraded shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Craig Hallum downgraded SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research note on Thursday, November 13th. Citizens Jmp lowered their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 13th. Lake Street Capital reduced their price objective on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.00.

SoundThinking Stock Down 2.4%

Shares of SSTI traded down $0.17 during mid-day trading on Friday, reaching $6.98. 155,310 shares of the company’s stock were exchanged, compared to its average volume of 177,009. The company has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $9.93. The company has a market cap of $88.65 million, a price-to-earnings ratio of -8.31 and a beta of 1.11. SoundThinking has a 52-week low of $5.78 and a 52-week high of $19.43.

SoundThinking (NASDAQ:SSTI) last released its earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). SoundThinking had a negative net margin of 10.44% and a negative return on equity of 14.57%. The firm had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $27.97 million. As a group, equities research analysts predict that SoundThinking will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently added to or reduced their stakes in SSTI. Kopion Asset Management LLC boosted its stake in SoundThinking by 52.1% in the 4th quarter. Kopion Asset Management LLC now owns 972,108 shares of the company’s stock worth $7,806,000 after buying an additional 333,170 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SoundThinking by 7.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 47,346 shares of the company’s stock worth $571,000 after acquiring an additional 3,330 shares during the period. Connective Capital Management LLC acquired a new stake in shares of SoundThinking in the third quarter worth approximately $297,000. Wasatch Advisors LP boosted its position in shares of SoundThinking by 3.7% in the third quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock worth $6,682,000 after acquiring an additional 19,848 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in SoundThinking by 9.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 20,336 shares of the company’s stock valued at $245,000 after purchasing an additional 1,759 shares during the period. 60.74% of the stock is currently owned by institutional investors and hedge funds.

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.