Shotspotter (NASDAQ:SSTI) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Shotspotter (NASDAQ:SSTI) from a hold rating to a sell rating in a research note released on Friday 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 a number of other research reports. Dougherty & Co downgraded Shotspotter from a buy rating to a neutral rating in a research report on Friday, May 10th. Lake Street Capital set a $50.00 price target on Shotspotter and gave the stock a buy rating in a research report on Friday, May 10th. Imperial Capital raised Shotspotter from an in-line rating to an outperform rating and set a $49.00 target price on the stock in a research report on Wednesday, May 15th. B. Riley set a $59.00 target price on Shotspotter and gave the company a buy rating in a research report on Thursday, March 28th. Finally, BidaskClub downgraded Xperi from a sell rating to a strong sell rating in a research report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $52.89.

Shares of NASDAQ SSTI opened at $43.17 on Friday. The stock’s 50 day simple moving average is $44.01. The firm has a market capitalization of $488.73 million, a P/E ratio of -166.04, a PEG ratio of 13.49 and a beta of 2.53. Shotspotter has a twelve month low of $26.55 and a twelve month high of $66.14.

Shotspotter (NASDAQ:SSTI) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $9.59 million for the quarter, compared to the consensus estimate of $9.77 million. Shotspotter had a negative return on equity of 9.63% and a negative net margin of 4.99%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. As a group, equities analysts anticipate that Shotspotter will post 0.09 earnings per share for the current fiscal year.

In related news, SVP Robert Samuel Klepper sold 1,201 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $45.01, for a total transaction of $54,057.01. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Joseph O. Hawkins sold 1,911 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $47.10, for a total value of $90,008.10. The disclosure for this sale can be found here. Insiders sold 82,684 shares of company stock worth $3,735,644 in the last ninety days. 36.10% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA acquired a new stake in Shotspotter during the first quarter worth approximately $59,000. Metropolitan Life Insurance Co. NY grew its position in Shotspotter by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,544 shares of the company’s stock worth $79,000 after buying an additional 1,987 shares in the last quarter. Marshall Wace LLP acquired a new stake in Shotspotter during the first quarter worth approximately $110,000. Barclays PLC grew its position in Shotspotter by 96.3% during the fourth quarter. Barclays PLC now owns 5,517 shares of the company’s stock worth $172,000 after buying an additional 2,706 shares in the last quarter. Finally, Moreno Evelyn V acquired a new stake in Shotspotter during the first quarter worth approximately $223,000. 62.67% of the stock is currently owned by institutional investors and hedge funds.

Shotspotter Company Profile

ShotSpotter, Inc provides precision-policing and security solutions for law enforcement and security personnel in the United States and South Africa. Its solutions include ShotSpotter Flex, a public safety solution, which serves cities and municipalities to identify, locate, and deter gun violence by incorporating a real-time gunshot detection system into their policing systems; and ShotSpotter Missions, a cloud-based patrol management solution to help police departments plan patrol missions and tactics for crime deterrence.

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