StockNews.com Begins Coverage on Smith Micro Software (NASDAQ:SMSI)

StockNews.com initiated coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the software maker’s stock.

Separately, Benchmark reduced their price objective on shares of Smith Micro Software from $28.00 to $20.00 and set a buy rating for the company in a research report on Friday, March 22nd.

Smith Micro Software Price Performance

SMSI opened at $1.93 on Friday. The firm has a fifty day moving average price of $3.66 and a 200 day moving average price of $5.91. Smith Micro Software has a 1 year low of $1.88 and a 1 year high of $14.96. The stock has a market cap of $18.55 million, a P/E ratio of -0.65 and a beta of 0.64.

Smith Micro Software (NASDAQ:SMSI) last posted its earnings results on Thursday, February 22nd. The software maker reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.16). Smith Micro Software had a negative net margin of 59.70% and a negative return on equity of 13.46%. The firm had revenue of $8.59 million during the quarter, compared to analyst estimates of $8.86 million. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. Equities analysts expect that Smith Micro Software will post -1.6 EPS for the current year.

Hedge Funds Weigh In On Smith Micro Software

A number of large investors have recently added to or reduced their stakes in SMSI. Virtu Financial LLC acquired a new position in Smith Micro Software during the fourth quarter worth $31,000. Verition Fund Management LLC acquired a new position in Smith Micro Software during the second quarter worth about $35,000. XTX Topco Ltd acquired a new position in Smith Micro Software during the second quarter worth about $37,000. Acadian Asset Management LLC acquired a new position in Smith Micro Software during the first quarter worth about $43,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Smith Micro Software during the second quarter worth about $44,000. 20.80% of the stock is currently owned by institutional investors and hedge funds.

Smith Micro Software Company Profile

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa. The company offers SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service provides deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language voice-to-text (VTT) transcription messaging.