Smith Micro Software (NASDAQ:SMSI) Announces Earnings Results

Smith Micro Software (NASDAQ:SMSI) announced its earnings results on Wednesday. The software maker reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01), FiscalAI reports. The firm had revenue of $3.97 million during the quarter, compared to analyst estimates of $4.30 million. Smith Micro Software had a negative return on equity of 44.44% and a negative net margin of 158.88%.

Smith Micro Software Trading Up 3.8%

NASDAQ SMSI traded up $0.02 on Wednesday, reaching $0.54. The stock had a trading volume of 113,736 shares, compared to its average volume of 102,868. Smith Micro Software has a 1 year low of $0.41 and a 1 year high of $1.30. The business has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.63. The company has a market capitalization of $13.61 million, a price-to-earnings ratio of -0.35 and a beta of 0.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Smith Micro Software in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Smith Micro Software

Several large investors have recently made changes to their positions in SMSI. Geode Capital Management LLC lifted its holdings in shares of Smith Micro Software by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after buying an additional 30,410 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after acquiring an additional 32,604 shares during the period. DRW Securities LLC acquired a new stake in shares of Smith Micro Software during the 4th quarter worth approximately $40,000. Finally, Susquehanna International Group LLP increased its position in shares of Smith Micro Software by 109.2% during the third quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after purchasing an additional 22,335 shares during the period. Institutional investors own 20.80% of the company’s stock.

About Smith Micro Software

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.