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

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

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

SoundThinking Trading Down 0.8 %

SSTI opened at $11.43 on Wednesday. SoundThinking has a 12 month low of $9.33 and a 12 month high of $26.92. The business’s 50-day moving average price is $11.70 and its 200-day moving average price is $13.17. The company has a market cap of $146.08 million, a P/E ratio of -95.24 and a beta of 1.17.

Insiders Place Their Bets

In related news, CEO Ralph A. Clark sold 6,479 shares of the company’s stock in a transaction that occurred 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 $7,227,754.16. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 14,327 shares of company stock worth $199,955. 9.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of SoundThinking by 145.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,843 shares of the company’s stock worth $102,000 after purchasing an additional 5,236 shares during the period. Rhumbline Advisers lifted its holdings in SoundThinking by 5.4% in the second quarter. Rhumbline Advisers now owns 13,973 shares of the company’s stock worth $170,000 after buying an additional 716 shares during the period. Ibex Investors LLC bought a new stake in SoundThinking during the 2nd quarter valued at approximately $171,000. Cim LLC grew its holdings in shares of SoundThinking by 18.5% during the 2nd quarter. Cim LLC now owns 19,828 shares of the company’s stock worth $266,000 after acquiring an additional 3,094 shares during the period. Finally, Barclays PLC raised its position in shares of SoundThinking by 245.5% in the 3rd quarter. Barclays PLC now owns 24,755 shares of the company’s stock worth $286,000 after acquiring an additional 17,591 shares in the last quarter. 60.74% of the stock is owned by hedge funds and other institutional investors.

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.