Timpani Capital Management LLC Invests $885,000 in ShotSpotter Inc. (SSTI) Stock
Timpani Capital Management LLC purchased a new position in ShotSpotter Inc. (NASDAQ:SSTI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 69,179 shares of the company’s stock, valued at approximately $885,000. Timpani Capital Management LLC owned 4.26% of ShotSpotter at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Gilder Gagnon Howe & Co. LLC purchased a new position in ShotSpotter in the 2nd quarter worth approximately $9,539,000. Russell Investments Group Ltd. purchased a new position in ShotSpotter in the 2nd quarter worth approximately $2,577,000. Federated Investors Inc. PA purchased a new position in ShotSpotter in the 2nd quarter worth approximately $1,151,000. Trellus Management Company LLC purchased a new position in ShotSpotter in the 2nd quarter worth approximately $1,112,000. Finally, Spark Investment Management LLC purchased a new position in ShotSpotter in the 2nd quarter worth approximately $231,000. 21.52% of the stock is currently owned by institutional investors and hedge funds.
ShotSpotter Inc. (NASDAQ:SSTI) traded up 2.632% during trading on Monday, hitting $10.879. The stock had a trading volume of 3,079 shares. ShotSpotter Inc. has a 12 month low of $9.33 and a 12 month high of $15.36. The stock has a 50 day moving average price of $11.63 and a 200-day moving average price of $12.68. The stock’s market cap is $104.48 million.
ShotSpotter (NASDAQ:SSTI) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.03. The firm had revenue of $5.84 million during the quarter, compared to analysts’ expectations of $5.07 million. During the same quarter last year, the firm posted ($1.44) EPS. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, equities analysts predict that ShotSpotter Inc. will post ($0.60) EPS for the current year.
A number of brokerages have commented on SSTI. Zacks Investment Research raised ShotSpotter from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Saturday. Imperial Capital began coverage on ShotSpotter in a research note on Thursday, July 27th. They issued an “outperform” rating and a $16.00 price target on the stock. Roth Capital began coverage on ShotSpotter in a research note on Monday, July 10th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Northland Securities began coverage on ShotSpotter in a research note on Monday, July 3rd. They issued an “outperform” rating and a $16.00 price target on the stock.
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ShotSpotter, Inc is engaged in designing and delivering gunfire alert and analysis solutions. The Company offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure.
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