What just happened? ShotSpotter, Inc. (NASDAQ:SSTI) stock value has plummeted by nearly -3.89% or (-1.65 points) to $40.74 from its previous close of $42.39. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 125807 contracts so far this session. SSTI shares had a relatively better volume day versus average trading capacity of 155 thousand shares, but with a 7.68 million float and a -6.32% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SSTI stock indicates that the average analyst price target is $56 per share. This means the stock has a potential increase of 37.46% from where the SSTI share price has been trading recently which is between $41.65 and $45.25. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $44.
The shorts are climbing into ShotSpotter, Inc. (SSTI) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in SSTI shares. While short interest still represents only 23.83% of SSTI’s float, the number of shares shorted have risen by 157787. The number of shares shorted advanced to 1987966 shares, up from 1830179 shares during the preceding fortnight. With average daily trading volumes at 136929 shares, days to cover increased to about 7.708256 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ShotSpotter Sets June 2019 Financial Conference Schedule” and dated May 29, 2019.
During the recent trading session for ShotSpotter, Inc. (NASDAQ:SSTI), the company witnessed their stock drop by $-6.54 over a week and tumble down $-3.5 from the price 20 days ago. When compared to their established 52-week high of $66.14, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/14/18. The recent low of $26.55 stood for a -38.4% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for ShotSpotter, Inc., the two-week RSI stands at 35.88. This figure suggests that SSTI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SSTI readings is similarly very revealing as it has a stochastic reading of 6.24% at this stage. This figure means that SSTI share price today is being overbought.
Technical chart claims that ShotSpotter, Inc. (SSTI) would settle between $44.54/share to $46.7/share level. However, if the stock price goes below the $40.94 mark, then the market for ShotSpotter, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $39.5 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -2.15. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Imperial Capital raised their recommendation on shares of SSTI from In-line to Outperform in their opinion released on May 15. Dougherty & Company analysts have lowered their rating of ShotSpotter, Inc. (NASDAQ:SSTI) stock from Buy to Neutral in a separate flash note issued to investors on May 10. Analysts at Imperial Capital lowered the stock to a In-line call from its previous Outperform recommendation, in a research note that dated back to February 21.
SSTI equity has an average rating of 1.9, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated ShotSpotter, Inc. (NASDAQ:SSTI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SSTI stock price is currently trading at 88.68X forward 12-month Consensus EPS estimates, and its P/S ratio is 9.26 while for the average stock in the same group, the multiple is 5.2.
ShotSpotter, Inc. (SSTI)’s current-quarter revenues are projected to climb by nearly 16.22% to hit $10.38 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 29% from $34.75 million to a noteworthy $44.83 million. At the other end of the current quarter income statement, ShotSpotter, Inc. is expected to see its adjusted earnings surge by roughly 66.67% to hit $-0.01 per share. For the fiscal year, SSTI’s earnings are projected to climb by roughly 400% to hit $0.09 per share.