SoundThinking, Inc. (NASDAQ:SSTI) Sees Large Decrease in Short Interest

SoundThinking, Inc. (NASDAQ:SSTI) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 150,100 shares, a decline of 31.2% from the October 15th total of 218,300 shares. Based on an average daily volume of 59,000 shares, the short-interest ratio is currently 2.5 days. Approximately 1.6% of the shares of the company are sold short.

SoundThinking Trading Down 0.8 %

Shares of SSTI traded down $0.09 during trading hours on Friday, reaching $11.43. 60,736 shares of the company’s stock traded hands, compared to its average volume of 61,070. The firm’s 50 day simple moving average is $11.70 and its 200-day simple moving average is $13.17. The stock has a market cap of $146.08 million, a PE 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) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $26.25 million during the quarter, compared to analysts’ expectations of $26.20 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. As a group, analysts expect that SoundThinking will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSTI. Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating in a research note on Thursday. Craig Hallum dropped their target price on SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, JMP Securities cut their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.20.

Insiders Place Their Bets

In related news, CEO Ralph A. Clark sold 6,479 shares of the company’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 value of $88,373.56. Following the transaction, the chief executive officer now owns 529,894 shares in the company, valued at approximately $7,227,754.16. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 14,327 shares of company stock valued at $199,955. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

A number of hedge funds have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN bought a new position in SoundThinking during the 3rd quarter valued at approximately $5,354,000. Barclays PLC raised its holdings in shares of SoundThinking by 245.5% during the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock valued at $286,000 after acquiring an additional 17,591 shares in the last quarter. State Street Corp lifted its stake in SoundThinking by 4.3% in the third quarter. State Street Corp now owns 197,024 shares of the company’s stock worth $2,284,000 after acquiring an additional 8,078 shares during the period. Walleye Capital LLC boosted its holdings in SoundThinking by 61.9% in the third quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock valued at $602,000 after acquiring an additional 19,861 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in SoundThinking by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after purchasing an additional 5,236 shares during the period. 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.