SoundThinking (NASDAQ:SSTI) Rating Increased to Strong-Buy at Craig Hallum

SoundThinking (NASDAQ:SSTI) was upgraded by investment analysts at Craig Hallum from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of SoundThinking in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $22.13.

SoundThinking Stock Performance

SSTI opened at $12.08 on Monday. The stock has a fifty day moving average of $11.82 and a 200-day moving average of $13.21. The company has a market capitalization of $154.38 million, a P/E ratio of -75.50 and a beta of 1.17. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92.

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 owns 529,894 shares of the company’s stock, valued at $7,227,754.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ralph A. Clark sold 5,591 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total value of $80,286.76. Following the sale, the chief executive officer now directly owns 536,373 shares in the company, valued at approximately $7,702,316.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,327 shares of company stock worth $199,955 in the last quarter. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoundThinking

A number of institutional investors and hedge funds have recently modified their holdings of SSTI. Federated Hermes Inc. increased its holdings in shares of SoundThinking by 14.4% in the second quarter. Federated Hermes Inc. now owns 1,505,000 shares of the company’s stock worth $18,331,000 after purchasing an additional 190,000 shares during the period. Bares Capital Management Inc. increased its stake 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. raised its holdings in shares of SoundThinking by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in shares of SoundThinking by 56.6% during the 3rd 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 last quarter. Finally, Pullen Investment Management LLC grew its holdings 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 worth $1,022,000 after purchasing an additional 36,290 shares in the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

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.