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

Craig Hallum upgraded shares of SoundThinking (NASDAQ:SSTI) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of SoundThinking in a report on Friday, September 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoundThinking has an average rating of “Moderate Buy” and an average price target of $21.20.

SoundThinking Price Performance

SSTI stock opened at $11.52 on Monday. The firm has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $13.18. SoundThinking has a 1-year low of $9.33 and a 1-year high of $26.92. The firm has a market cap of $147.26 million, a price-to-earnings ratio of -96.00 and a beta of 1.17.

Insider Activity at SoundThinking

In related news, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $14.36, for a total value of $80,286.76. Following the completion of the transaction, the chief executive officer now directly owns 536,373 shares of the company’s stock, valued at $7,702,316.28. This represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 14,327 shares of company stock worth $199,955 in the last ninety days. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SSTI. Federated Hermes Inc. raised 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 in the last quarter. Rice Hall James & Associates LLC raised 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 worth $4,197,000 after buying an additional 130,913 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoundThinking in the 1st quarter worth approximately $923,000. Pullen Investment Management LLC bought a new position in shares of SoundThinking in the second quarter valued at approximately $632,000. Finally, Bares Capital Management Inc. increased its stake in shares of SoundThinking by 4.9% during the first quarter. Bares Capital Management Inc. now owns 775,400 shares of the company’s stock valued at $12,313,000 after acquiring an additional 36,187 shares during the period. 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.