Smith Micro Software (NASDAQ:SMSI) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a research note released on Sunday morning. The firm issued a hold rating on the software maker’s stock.

Separately, Benchmark cut their target price on shares of Smith Micro Software from $28.00 to $20.00 and set a buy rating on the stock in a research note on Friday, March 22nd.

Smith Micro Software Stock Performance

Shares of NASDAQ SMSI opened at $1.95 on Friday. The company has a market capitalization of $18.74 million, a P/E ratio of -0.66 and a beta of 0.64. Smith Micro Software has a 52-week low of $1.88 and a 52-week high of $14.96. The company’s 50 day moving average price is $3.57 and its 200-day moving average price is $5.88.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.32) earnings per share (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 return on equity of 13.46% and a negative net margin of 59.70%. During the same quarter last year, the firm posted ($0.80) EPS. Analysts forecast that Smith Micro Software will post -1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC bought a new position in Smith Micro Software during the second quarter worth $35,000. Virtu Financial LLC bought a new position in shares of Smith Micro Software in the fourth quarter valued at $31,000. Cubist Systematic Strategies LLC bought a new position in shares of Smith Micro Software in the second quarter valued at $44,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Smith Micro Software in the third quarter valued at $45,000. Finally, XTX Topco Ltd bought a new position in shares of Smith Micro Software in the second quarter valued at $37,000. 20.80% of the stock is owned by institutional investors.

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.