Federated Hermes Inc. Sells 204,000 Shares of SoundThinking, Inc. $SSTI

Federated Hermes Inc. decreased its stake in SoundThinking, Inc. (NASDAQ:SSTI) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000,000 shares of the company’s stock after selling 204,000 shares during the period. Federated Hermes Inc. owned 7.82% of SoundThinking worth $12,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Strs Ohio bought a new stake in SoundThinking in the first quarter valued at approximately $127,000. R Squared Ltd bought a new position in SoundThinking during the 2nd quarter worth approximately $156,000. Pullen Investment Management LLC lifted its position in shares of SoundThinking by 1.0% in the 2nd quarter. Pullen Investment Management LLC now owns 160,653 shares of the company’s stock worth $2,097,000 after purchasing an additional 1,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoundThinking by 6.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,707 shares of the company’s stock valued at $1,014,000 after purchasing an additional 4,776 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of SoundThinking by 6.5% during the second quarter. Rhumbline Advisers now owns 15,960 shares of the company’s stock worth $208,000 after buying an additional 980 shares during the period. 60.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SSTI shares. Lake Street Capital dropped their target price on shares of SoundThinking from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of SoundThinking in a research note on Monday, December 29th. Zacks Research raised SoundThinking from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Craig Hallum downgraded SoundThinking from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a report on Thursday, November 13th. Finally, Roth Mkm restated a “buy” rating and set a $20.00 price target (down from $30.00) on shares of SoundThinking in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.

SoundThinking Price Performance

Shares of SoundThinking stock opened at $6.98 on Friday. The business has a 50-day simple moving average of $7.59 and a 200 day simple moving average of $9.93. SoundThinking, Inc. has a one year low of $5.78 and a one year high of $19.43. The firm has a market capitalization of $88.65 million, a price-to-earnings ratio of -8.31 and a beta of 1.11.

SoundThinking (NASDAQ:SSTI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The firm had revenue of $25.10 million during the quarter, compared to the consensus estimate of $27.97 million. SoundThinking had a negative return on equity of 14.57% and a negative net margin of 10.44%. On average, sell-side analysts expect that SoundThinking, Inc. will post -0.42 EPS for the current year.

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. 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.