Craig Hallum Downgrades SoundThinking (NASDAQ:SSTI) to Hold

SoundThinking (NASDAQ:SSTI) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $10.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 44.20% from the company’s previous close.

SSTI has been the topic of a number of other research reports. Wall Street Zen cut shares of SoundThinking from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of SoundThinking in a report on Wednesday, October 8th. Lake Street Capital dropped their price objective on SoundThinking from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Finally, Zacks Research upgraded SoundThinking from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SoundThinking presently has an average rating of “Hold” and a consensus target price of $18.20.

SoundThinking Price Performance

NASDAQ:SSTI traded down $1.50 during mid-day trading on Thursday, reaching $6.94. 202,125 shares of the company’s stock traded hands, compared to its average volume of 65,229. The firm has a market capitalization of $88.71 million, a price-to-earnings ratio of -8.78 and a beta of 1.17. SoundThinking has a 12-month low of $6.29 and a 12-month high of $19.43. The company has a 50 day moving average price of $11.11 and a 200-day moving average price of $12.97.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $27.97 million. SoundThinking had a negative net margin of 9.74% and a negative return on equity of 13.76%. SoundThinking has set its FY 2025 guidance at EPS. As a group, analysts forecast that SoundThinking will post -0.42 EPS for the current year.

Insider Buying and Selling

In other SoundThinking news, CEO Ralph A. Clark sold 16,161 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $11.80, for a total value of $190,699.80. Following the completion of the transaction, the chief executive officer directly owned 588,638 shares in the company, valued at $6,945,928.40. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 18,925 shares of company stock worth $223,967. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoundThinking

Several institutional investors and hedge funds have recently modified their holdings of SSTI. Mackenzie Financial Corp grew its stake in SoundThinking by 120.1% during the first quarter. Mackenzie Financial Corp now owns 94,362 shares of the company’s stock valued at $1,599,000 after acquiring an additional 51,498 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SoundThinking by 16.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,090 shares of the company’s stock valued at $493,000 after purchasing an additional 4,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of SoundThinking by 3.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,931 shares of the company’s stock worth $1,236,000 after purchasing an additional 2,198 shares during the last quarter. Nuveen LLC bought a new stake in shares of SoundThinking in the first quarter worth about $413,000. Finally, Informed Momentum Co LLC purchased a new stake in shares of SoundThinking in the first quarter worth about $732,000. Institutional investors own 60.74% of the company’s stock.

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.