Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Declines By 41.8%

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 178,428 shares, a decrease of 41.8% from the February 12th total of 306,665 shares. Based on an average trading volume of 108,522 shares, the short-interest ratio is presently 1.6 days. Approximately 1.0% of the shares of the company are short sold. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 108,522 shares, the short-interest ratio is presently 1.6 days.

Smith Micro Software Trading Up 4.2%

Shares of NASDAQ:SMSI opened at $0.76 on Thursday. The firm has a market capitalization of $19.52 million, a PE ratio of -0.50 and a beta of 0.63. Smith Micro Software has a 1-year low of $0.41 and a 1-year high of $1.30. The business’s 50 day moving average is $0.55 and its 200-day moving average is $0.63.

Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Wednesday, March 4th. The software maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Smith Micro Software had a negative net margin of 168.92% and a negative return on equity of 52.96%. The firm had revenue of $3.97 million during the quarter, compared to analyst estimates of $4.30 million. On average, sell-side analysts predict that Smith Micro Software will post -1.83 EPS for the current year.

Hedge Funds Weigh In On Smith Micro Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP boosted its position in shares of Smith Micro Software by 109.2% during the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after acquiring an additional 22,335 shares in the last quarter. DRW Securities LLC acquired a new position in Smith Micro Software in the fourth quarter worth about $40,000. Renaissance Technologies LLC lifted its stake in Smith Micro Software by 41.7% during the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after purchasing an additional 32,604 shares during the period. Finally, Geode Capital Management LLC lifted its stake in 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 purchasing an additional 30,410 shares during the period. 20.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Smith Micro Software in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.