SoundThinking (NASDAQ:SSTI) Announces Earnings Results, Misses Expectations By $0.08 EPS

by · The Cerbat Gem

SoundThinking (NASDAQ:SSTI – Get Free Report) announced its earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08), FiscalAI reports. SoundThinking had a negative net margin of 10.44% and a negative return on equity of 14.57%. The company had revenue of $24.79 million for the quarter, compared to the consensus estimate of $24.68 million.

SoundThinking Trading Up 0.6%

Shares of SSTI stock traded up $0.05 during trading hours on Tuesday, reaching $7.83. The company’s stock had a trading volume of 186,262 shares, compared to its average volume of 208,849. SoundThinking has a one year low of $5.78 and a one year high of $19.43. The firm’s fifty day simple moving average is $7.68 and its 200 day simple moving average is $9.21. The stock has a market capitalization of $99.44 million, a P/E ratio of -9.32 and a beta of 1.15.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of SoundThinking in a research report on Monday, December 29th. Citizens Jmp lowered their price target on SoundThinking from $19.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 13th. Cantor Fitzgerald lowered SoundThinking from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $10.00 in a research note on Wednesday, January 7th. Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective (down from $30.00) on shares of SoundThinking in a report on Thursday, November 13th. Finally, Lake Street Capital decreased their price objective on SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Get Our Latest Stock Analysis on SoundThinking

Insider Buying and Selling

In other news, major shareholder Veradace Partners Lp acquired 15,773 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of $7.14 per share, with a total value of $112,619.22. Following the transaction, the insider owned 2,039,905 shares in the company, valued at $14,564,921.70. The trade was a 0.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 137,417 shares of company stock valued at $979,843 in the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On SoundThinking

A number of institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new position in SoundThinking in the 1st quarter worth approximately $127,000. Rhumbline Advisers increased its holdings in shares of SoundThinking by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after purchasing an additional 980 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of SoundThinking in the second quarter worth $245,000. Manatuck Hill Partners LLC purchased a new position in shares of SoundThinking in the second quarter worth $402,000. Finally, Man Group plc lifted its holdings in shares of SoundThinking by 13.7% during the second quarter. Man Group plc now owns 38,166 shares of the company’s stock valued at $498,000 after purchasing an additional 4,588 shares in the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

SoundThinking Company Profile

(Get Free Report)

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. It offers ShotSpotter, an acoustic gunshot detection system; CrimeTracer, a law enforcement search engine; CaseBuilder, an investigation management system; and ResourceRouter, a software that directs patrol and community anti-violence resources to help maximize their impact.

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