SoundThinking (NASDAQ:SSTI) Receives “Overweight” Rating from Cantor Fitzgerald

SoundThinking (NASDAQ:SSTIGet Free Report)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $25.00 target price on the stock, down from their previous target price of $30.00. Cantor Fitzgerald’s price target would suggest a potential upside of 36.76% from the company’s previous close.

SoundThinking Stock Down 5.2 %

SoundThinking stock traded down $1.01 during mid-day trading on Monday, reaching $18.28. 43,653 shares of the company were exchanged, compared to its average volume of 56,593. SoundThinking has a twelve month low of $14.39 and a twelve month high of $39.46. The firm’s 50-day simple moving average is $22.63 and its two-hundred day simple moving average is $20.74.

Hedge Funds Weigh In On SoundThinking

A number of large investors have recently modified their holdings of SSTI. Captrust Financial Advisors purchased a new position in SoundThinking in the 2nd quarter valued at approximately $25,000. BNP Paribas Arbitrage SA increased its stake in SoundThinking by 92.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,937 shares of the company’s stock valued at $52,000 after purchasing an additional 932 shares in the last quarter. Citigroup Inc. increased its stake in SoundThinking by 1,154.5% in the 2nd quarter. Citigroup Inc. now owns 2,898 shares of the company’s stock valued at $63,000 after purchasing an additional 2,667 shares in the last quarter. UBS Group AG increased its stake in SoundThinking by 22.2% in the 3rd quarter. UBS Group AG now owns 2,751 shares of the company’s stock valued at $79,000 after purchasing an additional 499 shares in the last quarter. Finally, Barclays PLC increased its stake in SoundThinking by 533.0% in the 4th quarter. Barclays PLC now owns 2,399 shares of the company’s stock valued at $81,000 after purchasing an additional 2,020 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

About SoundThinking

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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.

Further Reading

Analyst Recommendations for SoundThinking (NASDAQ:SSTI)

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