ShotSpotter Set to Join the Russell 3000 Index
NEWARK, Calif., June 14, 2018 (GLOBE NEWSWIRE) -- ShotSpotter, Inc. (NASDAQ:SSTI), the leader in gunshot detection solutions that help law enforcement officials and security personnel identify, locate and deter gun violence, is set to join the broad-market Russell 3000® Index at the conclusion of the Russell U.S. Indexes annual reconstitution, effective after the U.S. market opens on June 25, according to a preliminary list of additions posted on the FTSE Russell website on June 8.
Membership in the U.S. Russell 3000® Index remains in place for one year. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Our anticipated addition to the Russell 3000 Index is an important indication that we are effectively driving growth as we continue to expand our product into new cities,” said Ralph Clark, President and CEO of ShotSpotter. “Our inclusion follows several other recent achievements for our company, including record quarterly revenues as well as the addition of 47 net new ‘go-live’ square miles of coverage in the first quarter of 2018. Our focus continues to be on expanding our existing deployments, which will, in turn, make cities safer, generate higher revenues for our business and, ultimately, greater long-term value for our supportive shareholders.”
Russell U.S. Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indexes. Russell U.S. Indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, please go to the Russell Reconstitution section of the FTSE Russell website.
About FTSE Russell
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FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16.2 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
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About ShotSpotter Inc.
ShotSpotter is the leader in gunshot detection solutions that help law enforcement officials and security personnel identify, locate and deter gun violence. ShotSpotter is based in Newark, California and offers its solutions on a SaaS-based subscription model.
Alan Stewart, CFO
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Released June 14, 2018