JMP Securities Issues Pessimistic Forecast for SoundThinking (NASDAQ:SSTI) Stock Price

SoundThinking (NASDAQ:SSTI) had its price objective lowered by investment analysts at JMP Securities from $25.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 64.93% from the stock’s current price.

A number of other equities analysts have also commented on SSTI. Craig Hallum cut their price objective on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

SoundThinking Price Performance

SoundThinking stock opened at $11.52 on Wednesday. SoundThinking has a one year low of $9.33 and a one year high of $26.92. The firm has a market capitalization of $147.23 million, a P/E ratio of -95.99 and a beta of 1.17. The business has a fifty day moving average price of $11.73 and a 200-day moving average price of $13.18.

Insider Transactions at SoundThinking

In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of SoundThinking 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 14,327 shares of company stock valued at $199,955. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

A number of large investors have recently added to or reduced their stakes in SSTI. Federated Hermes Inc. boosted its stake in shares of SoundThinking by 14.4% during the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock valued at $18,331,000 after purchasing an additional 190,000 shares during the period. Bares Capital Management Inc. grew its holdings in SoundThinking by 4.9% in the 1st quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock worth $12,313,000 after acquiring an additional 36,187 shares during the last quarter. Vanguard Group Inc. grew its holdings in SoundThinking by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after acquiring an additional 32,452 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of SoundThinking by 56.6% in the third quarter. Rice Hall James & Associates LLC now owns 362,144 shares of the company’s stock valued at $4,197,000 after acquiring an additional 130,913 shares during the period. Finally, Pullen Investment Management LLC raised its stake in shares of SoundThinking by 70.0% during the third quarter. Pullen Investment Management LLC now owns 88,152 shares of the company’s stock valued at $1,022,000 after acquiring an additional 36,290 shares during the last quarter. Hedge funds and other 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.