Zacks Research Downgrades SoundThinking (NASDAQ:SSTI) to Strong Sell

SoundThinking (NASDAQ:SSTI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on SSTI. Wall Street Zen upgraded SoundThinking from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

SoundThinking Price Performance

SSTI opened at $6.64 on Wednesday. The stock has a market cap of $85.99 million, a P/E ratio of -5.72 and a beta of 1.17. The stock’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $7.19. SoundThinking has a 1-year low of $5.78 and a 1-year high of $16.92.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The firm had revenue of $24.18 million during the quarter, compared to analyst estimates of $24.27 million. SoundThinking had a negative return on equity of 20.76% and a negative net margin of 14.95%. Research analysts expect that SoundThinking will post -0.69 EPS for the current fiscal year.

Insider Transactions at SoundThinking

In related news, major shareholder Veradace Partners Lp bought 15,773 shares of SoundThinking stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $7.14 per share, with a total value of $112,619.22. Following the purchase, the insider owned 2,039,905 shares in the company, valued at $14,564,921.70. This represents a 0.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kopion Asset Management LLC lifted 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 valued at $7,806,000 after buying an additional 333,170 shares in the last quarter. Wasatch Advisors LP lifted its stake in SoundThinking by 3.7% in the 3rd quarter. Wasatch Advisors LP now owns 554,085 shares of the company’s stock valued at $6,682,000 after buying an additional 19,848 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in SoundThinking by 8.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 444,087 shares of the company’s stock valued at $2,940,000 after buying an additional 36,474 shares in the last quarter. Yost Capital Management LP lifted its stake in SoundThinking by 62.3% in the 3rd quarter. Yost Capital Management LP now owns 292,200 shares of the company’s stock valued at $3,524,000 after buying an additional 112,200 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in SoundThinking by 264.8% in the 1st quarter. Quantinno Capital Management LP now owns 236,581 shares of the company’s stock valued at $1,566,000 after buying an additional 171,733 shares in the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

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. 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.