Zacks Investment Research Upgrades ShotSpotter (NASDAQ:SSTI) to “Hold”

Zacks Investment Research upgraded shares of ShotSpotter (NASDAQ:SSTI) from a strong sell rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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. “

SSTI has been the subject of several other reports. JMP Securities assumed coverage on ShotSpotter in a research report on Tuesday, December 21st. They issued a market perform rating for the company. TheStreet downgraded ShotSpotter from a c- rating to a d+ rating in a report on Tuesday, December 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $51.33.

ShotSpotter stock opened at $28.04 on Wednesday. The firm has a market capitalization of $327.40 million, a P/E ratio of -254.91, a PEG ratio of 6.63 and a beta of 1.27. ShotSpotter has a 1 year low of $26.80 and a 1 year high of $53.97. The business has a 50-day moving average of $32.62 and a 200-day moving average of $38.03.

ShotSpotter (NASDAQ:SSTI) last announced its quarterly earnings data on Tuesday, November 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). ShotSpotter had a negative return on equity of 1.55% and a negative net margin of 2.36%. The company had revenue of $14.55 million for the quarter, compared to the consensus estimate of $15.02 million. During the same quarter in the prior year, the company earned $0.05 EPS. On average, equities research analysts expect that ShotSpotter will post -0.08 EPS for the current fiscal year.

In related news, CEO Ralph A. Clark sold 10,000 shares of the business’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $33.62, for a total transaction of $336,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 20,424 shares of company stock valued at $684,409. 10.60% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Citigroup Inc. raised its position in ShotSpotter by 100.7% during the 3rd quarter. Citigroup Inc. now owns 1,130 shares of the company’s stock valued at $41,000 after purchasing an additional 567 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of ShotSpotter by 373.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,648 shares of the company’s stock worth $60,000 after acquiring an additional 1,300 shares in the last quarter. Marshall Wace LLP bought a new position in ShotSpotter during the 1st quarter valued at approximately $110,000. Metropolitan Life Insurance Co NY bought a new position in ShotSpotter during the 2nd quarter valued at approximately $117,000. Finally, SG Americas Securities LLC bought a new position in ShotSpotter during the 3rd quarter valued at approximately $120,000. Institutional investors own 60.78% of the company’s stock.

About ShotSpotter

ShotSpotter, Inc provides gunshot detection solutions. It helps law enforcement officials and security personnel identify, locate, and respond to gun violence. The firm offers solutions on a SaaS-based subscription model to customers around the world. The company was founded by Robert B. Calhoun, Jason Dunham, and Robert Leroy Showen in 1996 and is headquartered in Newark, CA.

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