Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Update

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Smith Micro Software, Inc. (NASDAQ:SMSI) saw a large decline in short interest in November. As of November 29th, there was short interest totalling 1,960,000 shares, a decline of 13.3% from the November 14th total of 2,260,000 shares. Based on an average trading volume of 492,700 shares, the days-to-cover ratio is presently 4.0 days. Approximately 6.5% of the shares of the stock are short sold.

A number of equities research analysts have recently issued reports on the stock. B. Riley set a $8.50 target price on shares of Smith Micro Software and gave the stock a “buy” rating in a report on Monday, October 21st. Zacks Investment Research lowered shares of Smith Micro Software from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, ValuEngine lowered shares of Smith Micro Software from a “sell” rating to a “strong sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Smith Micro Software currently has an average rating of “Hold” and an average price target of $5.75.

Several institutional investors have recently added to or reduced their stakes in SMSI. Barclays PLC grew its holdings in shares of Smith Micro Software by 135,303.7% during the third quarter. Barclays PLC now owns 36,559 shares of the software maker’s stock worth $198,000 after buying an additional 36,532 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Smith Micro Software by 3.4% during the second quarter. Acadian Asset Management LLC now owns 109,336 shares of the software maker’s stock worth $332,000 after buying an additional 3,623 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Smith Micro Software during the third quarter worth $1,187,000. BlackRock Inc. grew its holdings in shares of Smith Micro Software by 14.4% during the second quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock worth $1,268,000 after buying an additional 52,439 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Smith Micro Software by 26.2% during the second quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock worth $2,839,000 after buying an additional 194,019 shares in the last quarter. 16.19% of the stock is owned by institutional investors and hedge funds.

Shares of Smith Micro Software stock traded up $0.09 during trading hours on Friday, reaching $4.65. 215,867 shares of the company’s stock were exchanged, compared to its average volume of 280,793. Smith Micro Software has a 1 year low of $1.62 and a 1 year high of $6.90. The company has a market capitalization of $170.18 million, a P/E ratio of -33.21 and a beta of 0.32. The business has a fifty day moving average of $4.81 and a two-hundred day moving average of $4.74. The company has a quick ratio of 6.96, a current ratio of 6.96 and a debt-to-equity ratio of 0.13.

Smith Micro Software (NASDAQ:SMSI) last released its earnings results on Thursday, October 24th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. Smith Micro Software had a net margin of 25.64% and a return on equity of 32.55%. The business had revenue of $11.78 million during the quarter, compared to analyst estimates of $11.18 million. As a group, research analysts predict that Smith Micro Software will post 0.2 EPS for the current year.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

Further Reading: Trading based on a resistance level

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