Short Interest in SoundThinking, Inc. (NASDAQ:SSTI) Drops By 31.2%

SoundThinking, Inc. (NASDAQ:SSTI) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 150,100 shares, a decrease of 31.2% from the October 15th total of 218,300 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 59,000 shares, the short-interest ratio is currently 2.5 days.

SoundThinking Stock Performance

Shares of SSTI traded down $0.09 during mid-day trading on Friday, hitting $11.43. 60,736 shares of the company traded hands, compared to its average volume of 61,070. SoundThinking has a 1 year low of $9.33 and a 1 year high of $26.92. The stock has a 50-day moving average price of $11.70 and a two-hundred day moving average price of $13.17. The stock has a market cap of $146.08 million, a price-to-earnings ratio of -95.24 and a beta of 1.17.

SoundThinking (NASDAQ:SSTI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $26.25 million during the quarter, compared to the consensus estimate of $26.20 million. SoundThinking had a negative return on equity of 8.69% and a negative net margin of 1.39%. During the same period in the previous year, the firm earned ($0.09) EPS. On average, analysts forecast that SoundThinking will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ralph A. Clark sold 6,479 shares of SoundThinking stock in a transaction dated 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 transaction, the chief executive officer now directly owns 529,894 shares of the company’s stock, valued at $7,227,754.16. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 14,327 shares of company stock valued at $199,955 over the last ninety days. Company insiders own 9.20% of the company’s stock.

Institutional Trading of SoundThinking

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 5,236 shares during the period. Rhumbline Advisers raised its position in shares of SoundThinking by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock valued at $170,000 after purchasing an additional 716 shares during the period. Ibex Investors LLC purchased a new position in shares of SoundThinking during the 2nd quarter valued at $171,000. Cim LLC boosted its holdings in SoundThinking by 18.5% in the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after buying an additional 3,094 shares during the period. Finally, Barclays PLC increased its stake in SoundThinking by 245.5% in the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after buying an additional 17,591 shares in the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SSTI. JMP Securities cut their price target on SoundThinking from $25.00 to $19.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Craig Hallum lowered their price target on SoundThinking from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald upgraded shares of SoundThinking to a “strong-buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.20.

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.