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

SoundThinking, Inc. (NASDAQ:SSTI) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 150,100 shares, a decline of 31.2% from the October 15th total of 218,300 shares. Based on an average trading volume of 59,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.6% of the shares of the company are short sold.

SoundThinking Trading Down 0.8 %

Shares of NASDAQ SSTI traded down $0.09 during midday trading on Friday, reaching $11.43. 60,736 shares of the company were exchanged, compared to its average volume of 61,070. The stock has a market cap of $146.08 million, a P/E ratio of -95.24 and a beta of 1.17. SoundThinking has a 1 year low of $9.33 and a 1 year high of $26.92. The stock has a fifty day simple moving average of $11.70 and a 200 day simple moving average of $13.17.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Cantor Fitzgerald upgraded SoundThinking to a “strong-buy” rating in a research note on Thursday. JMP Securities reduced their target price on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday. Finally, Craig Hallum dropped their price target on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

Insiders Place Their Bets

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the transaction, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 14,327 shares of company stock valued at $199,955. 9.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundThinking

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of SoundThinking by 145.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock valued at $102,000 after acquiring an additional 5,236 shares during the period. Rhumbline Advisers boosted its position in shares of SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after acquiring an additional 716 shares during the last quarter. Ibex Investors LLC acquired a new position in SoundThinking during the second quarter worth approximately $171,000. Cim LLC raised its stake in 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, Barclays PLC boosted its position in shares of SoundThinking by 245.5% in the third quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after buying an additional 17,591 shares during the period. 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.