SoundThinking (NASDAQ:SSTI) Price Target Cut to $16.00 by Analysts at Craig Hallum

SoundThinking (NASDAQ:SSTI) had its price objective cut by research analysts at Craig Hallum from $17.50 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s target price would indicate a potential upside of 38.05% from the company’s previous close.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of SoundThinking in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SoundThinking currently has an average rating of “Moderate Buy” and an average price target of $21.75.

SoundThinking Price Performance

Shares of SoundThinking stock traded down $0.49 during trading on Wednesday, hitting $11.59. 59,829 shares of the stock were exchanged, compared to its average volume of 60,640. The firm’s 50-day moving average price is $11.82 and its 200 day moving average price is $13.21. The stock has a market cap of $148.12 million, a price-to-earnings ratio of -98.16 and a beta of 1.17. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92.

Insider Transactions at SoundThinking

In related news, CEO Ralph A. Clark sold 5,591 shares of SoundThinking stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total value of $80,286.76. Following the transaction, the chief executive officer now directly owns 536,373 shares in the company, valued at $7,702,316.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other SoundThinking news, CEO Ralph A. Clark sold 6,479 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.64, for a total transaction of $88,373.56. Following the completion of the transaction, the chief executive officer now owns 529,894 shares in the company, valued at approximately $7,227,754.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction 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 approximately $7,702,316.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,327 shares of company stock worth $199,955. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SoundThinking by 42.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,790 shares of the company’s stock valued at $635,000 after purchasing an additional 16,336 shares during the period. Rice Hall James & Associates LLC raised its stake in 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 purchasing an additional 130,913 shares during the period. Pullen Investment Management LLC boosted its position in shares of SoundThinking by 70.0% in the third quarter. Pullen Investment Management LLC now owns 88,152 shares of the company’s stock worth $1,022,000 after buying an additional 36,290 shares during the period. Cubist Systematic Strategies LLC acquired a new position in SoundThinking during the second quarter valued at $298,000. Finally, Cim LLC grew its stake in SoundThinking by 18.5% during the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock valued at $266,000 after acquiring an additional 3,094 shares in the last quarter. Institutional investors and hedge funds own 60.74% of the company’s stock.

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.