SoundThinking (NASDAQ:SSTI) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of SoundThinking (NASDAQ:SSTI) in a research note published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $21.00 target price on the stock.

Several other research firms also recently commented on SSTI. William Blair downgraded SoundThinking from an outperform rating to a market perform rating in a report on Friday, May 17th. Roth Mkm restated a buy rating and set a $30.00 price objective on shares of SoundThinking in a report on Wednesday, May 15th. Cantor Fitzgerald reduced their price objective on SoundThinking from $25.00 to $20.00 and set an overweight rating on the stock in a report on Wednesday, May 15th. Finally, Craig Hallum dropped their target price on SoundThinking from $22.00 to $19.00 and set a hold rating on the stock in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $22.50.

SoundThinking Stock Performance

Shares of NASDAQ SSTI traded up $0.10 during mid-day trading on Friday, reaching $16.38. The company’s stock had a trading volume of 120,354 shares, compared to its average volume of 57,947. The stock has a fifty day moving average of $14.61 and a two-hundred day moving average of $19.01. SoundThinking has a 52 week low of $12.98 and a 52 week high of $27.75.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). SoundThinking had a negative net margin of 3.94% and a negative return on equity of 12.69%. The company had revenue of $25.41 million for the quarter, compared to analysts’ expectations of $25.48 million. During the same quarter last year, the company earned ($0.15) earnings per share. As a group, equities research analysts predict that SoundThinking will post -0.35 EPS for the current fiscal year.

Insider Transactions at SoundThinking

In other news, CEO Ralph A. Clark sold 2,034 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $16.42, for a total value of $33,398.28. Following the completion of the sale, the chief executive officer now owns 543,857 shares of the company’s stock, valued at approximately $8,930,131.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 4,287 shares of company stock valued at $68,807 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of SoundThinking

A number of institutional investors have recently made changes to their positions in SSTI. Kopion Asset Management LLC acquired a new stake in SoundThinking during the 4th quarter worth about $3,202,000. Kennedy Capital Management LLC purchased a new position in shares of SoundThinking during the 3rd quarter valued at about $1,898,000. Mainsail Management Company LLC purchased a new position in shares of SoundThinking during the 3rd quarter valued at about $1,646,000. Bares Capital Management Inc. raised its stake in shares of SoundThinking by 12.6% during the 3rd quarter. Bares Capital Management Inc. now owns 667,508 shares of the company’s stock valued at $11,948,000 after buying an additional 74,521 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of SoundThinking during the 1st quarter valued at about $923,000. Institutional investors and hedge funds 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.