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

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 150,500 shares, a decrease of 84.1% from the March 31st total of 948,700 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 146,900 shares, the days-to-cover ratio is presently 1.0 days.

Smith Micro Software Stock Up 2.3 %

Shares of Smith Micro Software stock traded up $0.05 on Thursday, hitting $2.22. The stock had a trading volume of 28,350 shares, compared to its average volume of 125,209. The stock has a market cap of $21.33 million, a price-to-earnings ratio of -0.75 and a beta of 0.64. Smith Micro Software has a twelve month low of $1.88 and a twelve month high of $14.96. The business’s 50 day moving average is $3.09 and its two-hundred day moving average is $5.60.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMSI. Benchmark cut their target price on shares of Smith Micro Software from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. StockNews.com began coverage on Smith Micro Software in a research report on Sunday, April 14th. They issued a “hold” rating for the company.

Institutional Trading of Smith Micro Software

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Ridge Capital Partners LLC lifted its position in shares of Smith Micro Software by 21.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 2,128,190 shares of the software maker’s stock valued at $1,758,000 after acquiring an additional 374,963 shares during the period. CM Management LLC lifted its position in Smith Micro Software by 33.3% during the third quarter. CM Management LLC now owns 300,000 shares of the software maker’s stock worth $363,000 after purchasing an additional 75,000 shares during the period. Finally, Sonora Investment Management Group LLC acquired a new stake in Smith Micro Software during the third quarter worth about $59,000. Institutional investors and hedge funds own 20.80% of the company’s stock.

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.