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

SoundThinking, Inc. (NASDAQ:SSTI - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 150,100 shares, a decrease of 31.2% from the October 15th total of 218,300 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 59,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

SSTI has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded SoundThinking to a "strong-buy" rating in a report on Thursday. JMP Securities decreased their price target on SoundThinking from $25.00 to $19.00 and set a "market outperform" rating on the stock in a research note on Wednesday. Finally, Craig Hallum lowered their price target on SoundThinking from $17.50 to $16.00 and set a "hold" rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SoundThinking presently has an average rating of "Moderate Buy" and a consensus price target of $21.20.

Insider Activity at SoundThinking

In other news, CEO Ralph A. Clark sold 6,479 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the transaction, the chief executive officer now directly owns 529,894 shares in the company, valued at $7,227,754.16. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in SoundThinking by 14.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company's stock worth $18,331,000 after acquiring an additional 190,000 shares during the period. Bares Capital Management Inc. lifted its holdings in shares of SoundThinking by 4.9% during the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company's stock worth $12,313,000 after purchasing an additional 36,187 shares during the period. Vanguard Group Inc. grew its position in SoundThinking by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company's stock valued at $8,010,000 after buying an additional 32,452 shares during the last quarter. Disciplined Growth Investors Inc. MN acquired a new position in SoundThinking in the 3rd quarter valued at $5,354,000. Finally, Rice Hall James & Associates LLC raised its position in SoundThinking by 56.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company's stock worth $4,197,000 after buying an additional 130,913 shares during the last quarter. Institutional investors and hedge funds own 60.74% of the company's stock.

SoundThinking Price Performance

Shares of SoundThinking stock traded down $0.09 during trading on Friday, hitting $11.43. 60,736 shares of the stock were exchanged, compared to its average volume of 61,070. The firm's 50-day moving average price is $11.70 and its 200 day moving average price is $13.17. The stock has a market cap of $146.08 million, a price-to-earnings ratio of -95.24 and a beta of 1.17. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92.

SoundThinking (NASDAQ:SSTI - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). SoundThinking had a negative return on equity of 8.69% and a negative net margin of 1.39%. The business had revenue of $26.25 million for the quarter, compared to analysts' expectations of $26.20 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. As a group, research analysts forecast that SoundThinking will post -0.38 earnings per share for the current year.

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.