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

SoundThinking (NASDAQ:SSTI) had its price target cut by Craig Hallum from $17.50 to $16.00 in a research report released on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

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

SoundThinking Trading Down 7.4 %

NASDAQ SSTI opened at $11.19 on Wednesday. The firm’s fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $13.19. SoundThinking has a 12-month low of $9.33 and a 12-month high of $26.92. The firm has a market capitalization of $143.04 million, a P/E ratio of -93.25 and a beta of 1.17.

Insider Buying and Selling

In related news, CEO Ralph A. Clark sold 6,479 shares of the company’s 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 sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ralph A. Clark sold 6,479 shares of the company’s 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 sale, the chief executive officer now owns 529,894 shares of the company’s stock, valued at approximately $7,227,754.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Clark sold 5,591 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $14.36, for a total transaction of $80,286.76. Following the completion of the sale, the chief executive officer now directly owns 536,373 shares of the company’s stock, valued at approximately $7,702,316.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,327 shares of company stock worth $199,955 in the last 90 days. Insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

A number of hedge funds have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC raised its holdings in shares of SoundThinking by 70.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 231,231 shares of the company’s stock valued at $2,816,000 after purchasing an additional 95,492 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoundThinking in the 1st quarter valued at $923,000. Federated Hermes Inc. raised its stake in SoundThinking by 14.4% during the 2nd 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. Vanguard Group Inc. raised its stake in SoundThinking by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 504,435 shares of the company’s stock worth $8,010,000 after acquiring an additional 32,452 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in SoundThinking during the 2nd quarter worth $298,000. 60.74% of the stock is currently owned by institutional investors and hedge funds.

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.