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

SoundThinking, Inc. (NASDAQ:SSTI) was the target 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. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 59,000 shares, the short-interest ratio is currently 2.5 days.

Insider Activity at SoundThinking

In other news, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total transaction of $80,286.76. Following the completion of the sale, the chief executive officer now owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 14,327 shares of company stock worth $199,955. Insiders own 9.20% of the company’s stock.

Institutional Trading of SoundThinking

A number of hedge funds have recently made changes to their positions in SSTI. BNP Paribas Financial Markets raised its holdings in SoundThinking by 145.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after buying an additional 5,236 shares during the last quarter. Rhumbline Advisers increased its position in SoundThinking by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after acquiring an additional 716 shares during the period. Ibex Investors LLC bought a new position in shares of SoundThinking during the second quarter valued at $171,000. Cim LLC lifted its holdings in shares of SoundThinking by 18.5% during the second quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after purchasing an additional 3,094 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of SoundThinking in the second quarter worth $298,000. 60.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SSTI has been the subject of a number of recent research reports. Craig Hallum decreased their target price on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research report on Wednesday. JMP Securities dropped their price objective on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald raised SoundThinking to a “strong-buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SoundThinking currently has a consensus rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

Shares of SSTI traded down $0.09 during mid-day trading on Friday, reaching $11.43. The company had a trading volume of 60,736 shares, compared to its average volume of 61,070. The company has a market capitalization of $146.08 million, a price-to-earnings ratio of -95.24 and a beta of 1.17. The company’s 50 day simple moving average is $11.70 and its 200 day simple moving average is $13.17. SoundThinking has a 1-year low of $9.33 and a 1-year high of $26.92.

SoundThinking (NASDAQ:SSTI) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share 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 company had revenue of $26.25 million for the quarter, compared to the consensus estimate of $26.20 million. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that SoundThinking will post -0.38 earnings per share for the current fiscal year.

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.