Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Large Decline in Short Interest

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 223,466 shares, a drop of 18.0% from the March 31st total of 272,448 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 74,332 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Smith Micro Software in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Smith Micro Software Price Performance

Shares of Smith Micro Software stock traded up $0.07 during trading on Thursday, reaching $0.89. 359,608 shares of the stock traded hands, compared to its average volume of 271,140. Smith Micro Software has a 52-week low of $0.41 and a 52-week high of $1.30. The business has a fifty day simple moving average of $0.70 and a two-hundred day simple moving average of $0.64. The company has a market capitalization of $22.72 million, a price-to-earnings ratio of -0.59 and a beta of 0.49.

Smith Micro Software (NASDAQ:SMSI) last posted 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 return on equity of 52.96% and a negative net margin of 168.92%.The firm had revenue of $3.97 million during the quarter, compared to analysts’ expectations of $4.30 million. On average, research analysts predict that Smith Micro Software will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of Smith Micro Software

Several hedge funds have recently modified their holdings of SMSI. 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 during the last quarter. DRW Securities LLC bought a new stake in Smith Micro Software in the fourth quarter worth $40,000. Renaissance Technologies LLC increased its position in Smith Micro Software by 41.7% in 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 last quarter. Finally, Geode Capital Management LLC raised 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 valued at $115,000 after purchasing an additional 30,410 shares in the last quarter. 20.80% of the stock is owned by hedge funds and other institutional investors.

Smith Micro Software Company Profile

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.