Craig Hallum Has Lowered Expectations for SoundThinking (NASDAQ:SSTI) Stock Price

SoundThinking (NASDAQ:SSTI) had its target price cut by investment analysts at Craig Hallum from $17.50 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 38.89% from the company’s previous close.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of SoundThinking in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoundThinking has an average rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Stock Up 2.9 %

SoundThinking stock opened at $11.52 on Wednesday. The company has a market capitalization of $147.23 million, a P/E ratio of -95.99 and a beta of 1.17. The stock’s 50 day moving average is $11.73 and its 200 day moving average is $13.18. SoundThinking has a twelve month low of $9.33 and a twelve month high of $26.92.

Insider Activity at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 5,591 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the completion of the transaction, the chief executive officer now owns 536,373 shares in the company, valued at approximately $7,702,316.28. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 14,327 shares of company stock worth $199,955 over the last three months. Company insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSTI. Vanguard Group Inc. raised its position in shares of SoundThinking by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after purchasing an additional 32,452 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of SoundThinking during the 1st quarter worth about $923,000. Bares Capital Management Inc. raised its position in shares of SoundThinking by 4.9% during the 1st 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 last quarter. Bank of New York Mellon Corp raised its position in shares of SoundThinking by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,571 shares of the company’s stock worth $482,000 after purchasing an additional 3,268 shares during the last quarter. Finally, Pullen Investment Management LLC acquired a new position in shares of SoundThinking during the 2nd quarter worth about $632,000. Institutional investors and hedge funds 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.