SoundThinking, Inc. (NASDAQ:SSTI) Short Interest Down 31.2% in October

SoundThinking, Inc. (NASDAQ:SSTI) was the recipient of a significant 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 currently 2.5 days. Currently, 1.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SSTI. Cantor Fitzgerald raised SoundThinking to a “strong-buy” rating in a research note on Thursday. Craig Hallum lowered their target price on shares of SoundThinking from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, JMP Securities cut their target price on shares of SoundThinking from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday. Two 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.20.

SoundThinking Stock Performance

Shares of SSTI traded down $0.09 during mid-day trading on Friday, hitting $11.43. 60,736 shares of the stock were exchanged, compared to its average volume of 61,070. The company has a market cap of $146.08 million, a PE ratio of -95.24 and a beta of 1.17. SoundThinking has a 52-week low of $9.33 and a 52-week high of $26.92. The firm has a 50-day moving average of $11.70 and a two-hundred day moving average of $13.17.

SoundThinking (NASDAQ:SSTI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $26.25 million for the quarter, compared to analysts’ expectations of $26.20 million. SoundThinking had a negative net margin of 1.39% and a negative return on equity of 8.69%. During the same period in the previous year, the company earned ($0.09) EPS. On average, sell-side analysts predict that SoundThinking will post -0.38 EPS for the current year.

Insider Transactions at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the business’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 sale, the chief executive officer now directly owns 529,894 shares in the company, valued at approximately $7,227,754.16. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 14,327 shares of company stock worth $199,955 over the last three months. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoundThinking

Several institutional investors have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN purchased a new stake in shares of SoundThinking during the 3rd quarter worth $5,354,000. Barclays PLC raised its stake in shares of SoundThinking by 245.5% during the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after acquiring an additional 17,591 shares in the last quarter. State Street Corp raised its stake in shares of SoundThinking by 4.3% during the 3rd quarter. State Street Corp now owns 197,024 shares of the company’s stock worth $2,284,000 after acquiring an additional 8,078 shares in the last quarter. Walleye Capital LLC boosted its stake in SoundThinking by 61.9% in the third quarter. Walleye Capital LLC now owns 51,932 shares of the company’s stock valued at $602,000 after acquiring an additional 19,861 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in SoundThinking by 145.2% in the third quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock worth $102,000 after purchasing an additional 5,236 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.