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

SoundThinking, Inc. (NASDAQ:SSTI) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 643,334 shares, a growth of 35.7% from the December 31st total of 473,999 shares. Based on an average trading volume of 181,673 shares, the short-interest ratio is presently 3.5 days. Currently, 5.7% of the shares of the company are sold short. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 181,673 shares, the short-interest ratio is presently 3.5 days.

SoundThinking Stock Up 0.3%

NASDAQ:SSTI opened at $7.00 on Tuesday. The firm has a market capitalization of $88.90 million, a price-to-earnings ratio of -8.33 and a beta of 1.16. SoundThinking has a twelve month low of $5.78 and a twelve month high of $19.43. The stock’s 50 day moving average price is $7.60 and its two-hundred day moving average price is $9.87.

SoundThinking (NASDAQ:SSTI) last posted its quarterly earnings data 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). SoundThinking had a negative return on equity of 14.57% and a negative net margin of 10.44%.The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $27.97 million. As a group, analysts anticipate that SoundThinking will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SSTI. Cantor Fitzgerald lowered SoundThinking from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $10.00 in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SoundThinking in a report on Monday, December 29th. Craig Hallum lowered shares of SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research note on Thursday, November 13th. Citizens Jmp lowered their price objective on shares of SoundThinking from $19.00 to $16.00 and set a “market outperform” rating for the company in a research report on Thursday, November 13th. Finally, Zacks Research raised shares of SoundThinking from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new position in SoundThinking during the 3rd quarter worth approximately $31,000. BNP Paribas Financial Markets increased its holdings in shares of SoundThinking by 160.5% during the third quarter. BNP Paribas Financial Markets now owns 2,740 shares of the company’s stock valued at $33,000 after acquiring an additional 1,688 shares in the last quarter. State of Wyoming acquired a new position in shares of SoundThinking during the second quarter worth approximately $33,000. Strs Ohio bought a new stake in SoundThinking during the 1st quarter valued at $127,000. Finally, Corient Private Wealth LLC bought a new stake in shares of SoundThinking during the second quarter worth about $132,000. 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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.