Craig Hallum Cuts SoundThinking (NASDAQ:SSTI) Price Target to $16.00

SoundThinking (NASDAQ:SSTI) had its target price lowered by Craig Hallum from $17.50 to $16.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

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

SoundThinking Stock Performance

Shares of NASDAQ SSTI opened at $11.43 on Wednesday. SoundThinking has a fifty-two week low of $9.33 and a fifty-two week high of $26.92. The stock has a market cap of $146.08 million, a PE ratio of -95.24 and a beta of 1.17. The stock has a fifty day moving average of $11.70 and a 200-day moving average of $13.17.

Insider Activity at SoundThinking

In related news, CEO Ralph A. Clark sold 6,479 shares of the firm’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 value of $88,373.56. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 14,327 shares of company stock valued at $199,955. Company insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On SoundThinking

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. grew its position in 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 acquiring an additional 190,000 shares in the last quarter. Bares Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 36,187 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SoundThinking by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock valued at $8,010,000 after purchasing an additional 32,452 shares during the last quarter. Disciplined Growth Investors Inc. MN bought a new position in shares of SoundThinking during the 3rd quarter valued at about $5,354,000. Finally, Rice Hall James & Associates LLC raised its holdings 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 buying an additional 130,913 shares in the last quarter. Institutional investors 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.