ShotSpotter Inc. (NASDAQ:SSTI) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

ShotSpotter (NASDAQ SSTI) opened at 11.59 on Friday. The stock has a 50 day moving average of $12.56 and a 200-day moving average of $12.96. ShotSpotter has a 12-month low of $9.33 and a 12-month high of $15.36. The company’s market cap is $43.16 million.

SSTI has been the subject of several recent analyst reports. Northland Securities initiated coverage on shares of ShotSpotter in a research report on Monday, July 3rd. They set an “outperform” rating and a $16.00 price objective for the company. Roth Capital initiated coverage on shares of ShotSpotter in a research report on Monday, July 10th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Imperial Capital initiated coverage on shares of ShotSpotter in a research report on Thursday, July 27th. They set an “outperform” rating and a $16.00 price objective for the company.

In other ShotSpotter news, CFO Alan R. Stewart purchased 9,090 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $99,990.00. Following the transaction, the chief financial officer now owns 9,090 shares in the company, valued at approximately $99,990. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ralph A. Clark bought 13,636 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was purchased at an average price of $11.00 per share, with a total value of $149,996.00. Following the transaction, the insider now directly owns 13,636 shares in the company, valued at $149,996. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 113,726 shares of company stock valued at $1,250,986.

A number of hedge funds have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of ShotSpotter during the second quarter valued at $9,539,000. Prudential PLC bought a new stake in shares of ShotSpotter during the second quarter valued at $3,837,000. Russell Investments Group Ltd. bought a new stake in shares of ShotSpotter during the second quarter valued at $2,577,000. Castleark Management LLC bought a new stake in shares of ShotSpotter during the second quarter valued at $2,110,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of ShotSpotter during the second quarter valued at $1,663,000. Hedge funds and other institutional investors own 13.85% of the company’s stock.

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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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