ShotSpotter (NASDAQ:SSTI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of ShotSpotter (NASDAQ:SSTI) from a strong sell rating to a hold rating in a research note published on Wednesday morning, 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 topic of several other reports. TheStreet lowered ShotSpotter from a c- rating to a d+ rating in a research note on Tuesday, December 28th. JMP Securities initiated coverage on ShotSpotter in a research note on Tuesday, December 21st. They issued a market perform rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $51.33.

Shares of NASDAQ:SSTI opened at $28.04 on Wednesday. The stock has a market capitalization of $327.40 million, a P/E ratio of -254.91, a P/E/G 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 price of $32.62 and a two-hundred day moving average price of $38.03.

ShotSpotter (NASDAQ:SSTI) last released its quarterly earnings results on Tuesday, November 9th. The company reported ($0.08) earnings per share 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 firm had revenue of $14.55 million for the quarter, compared to analyst estimates of $15.02 million. During the same period last year, the company earned $0.05 EPS. Sell-side 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 company’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $33.40, for a total value of $334,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 20,424 shares of company stock valued at $684,409 in the last three months. Corporate insiders own 10.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Credit Suisse AG purchased a new position in shares of ShotSpotter during the second quarter valued at approximately $223,000. Swiss National Bank increased its position in shares of ShotSpotter by 4.9% during the second quarter. Swiss National Bank now owns 19,300 shares of the company’s stock worth $941,000 after purchasing an additional 900 shares in the last quarter. Manatuck Hill Partners LLC increased its position in shares of ShotSpotter by 24.7% during the second quarter. Manatuck Hill Partners LLC now owns 189,000 shares of the company’s stock worth $9,218,000 after purchasing an additional 37,400 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ShotSpotter by 5.5% in the second quarter. Geode Capital Management LLC now owns 145,833 shares of the company’s stock valued at $7,112,000 after purchasing an additional 7,572 shares during the last quarter. Finally, State Street Corp boosted its holdings in ShotSpotter by 6.8% in the second quarter. State Street Corp now owns 158,900 shares of the company’s stock valued at $7,750,000 after purchasing an additional 10,051 shares during the last quarter. 60.78% of the stock is currently owned by institutional investors.

ShotSpotter Company Profile

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.

Further Reading: Price to Earnings Ratio (PE)

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