ShotSpotter Inc. (NASDAQ:SSTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “ShotSpotter, Inc. is involved in designing and delivering gunfire alert and analysis solutions. The Company’s product consists of ShotSpotter Flex, ShotSpotter SiteSecure and SecureCampus. It operates primarily in United States, Puerto Rico, the U.S. Virgin Islands and South Africa. ShotSpotter, Inc. is headquartered in California, USA. “

Several other equities research analysts also recently commented on the stock. Imperial Capital assumed coverage on shares of ShotSpotter in a research report on Thursday, July 27th. They set an “outperform” rating and a $16.00 target price for the company. Roth Capital assumed coverage on shares of ShotSpotter in a research report on Monday, July 10th. They set a “buy” rating and a $18.00 target price for the company. Finally, Northland Securities assumed coverage on shares of ShotSpotter in a research report on Monday, July 3rd. They set an “outperform” rating and a $16.00 target price for the company.

ShotSpotter (NASDAQ:SSTI) last posted its earnings results on Tuesday, August 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.03). The firm had revenue of $5.84 million for the quarter, compared to the consensus estimate of $5.07 million. ShotSpotter’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.44) earnings per share.

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A number of hedge funds have recently modified their holdings of the business. K.J. Harrison & Partners Inc bought a new stake in ShotSpotter in the 2nd quarter worth about $128,000. Goldman Sachs Group Inc. bought a new stake in ShotSpotter in the 2nd quarter worth about $181,000. Spark Investment Management LLC bought a new stake in ShotSpotter in the 2nd quarter worth about $231,000. Timpani Capital Management LLC bought a new stake in ShotSpotter in the 2nd quarter worth about $885,000. Finally, Trellus Management Company LLC bought a new stake in ShotSpotter in the 2nd quarter worth about $1,112,000. 21.52% of the stock is owned by institutional investors and hedge funds.

About ShotSpotter

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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