Smith Micro Software (NASDAQ:SMSI) Downgraded to Sell at ValuEngine

Posted by Grant Hamersma on Dec 4th, 2019

ValuEngine lowered shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a sell rating in a report released on Tuesday morning, ValuEngine reports.

SMSI has been the topic of several other research reports. B. Riley set a $8.50 target price on Smith Micro Software and gave the stock a buy rating in a report on Monday, October 21st. Zacks Investment Research lowered Smith Micro Software from a strong-buy rating to a hold rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $5.75.

Shares of Smith Micro Software stock opened at $4.63 on Tuesday. The firm has a fifty day moving average of $5.12 and a two-hundred day moving average of $4.68. The stock has a market capitalization of $181.73 million, a price-to-earnings ratio of -33.07 and a beta of 0.32. Smith Micro Software has a 52 week low of $1.62 and a 52 week high of $6.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.96 and a current ratio of 6.96.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position 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 purchasing an additional 3,623 shares in the last quarter. BlackRock Inc. increased its position in shares of Smith Micro Software by 14.4% in the 2nd quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock valued at $1,268,000 after buying an additional 52,439 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Smith Micro Software by 26.2% in the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after buying an additional 194,019 shares in the last quarter. Barclays PLC raised its stake in Smith Micro Software by 135,303.7% during the 3rd quarter. Barclays PLC now owns 36,559 shares of the software maker’s stock worth $198,000 after buying an additional 36,532 shares during the period. Finally, Millennium Management LLC acquired a new stake in Smith Micro Software during the 3rd quarter worth $1,187,000. Institutional investors own 16.19% of the company’s stock.

About Smith Micro Software

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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