Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 38.6% in September

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 756,400 shares, a growth of 38.6% from the August 31st total of 545,700 shares. Based on an average daily volume of 3,590,000 shares, the short-interest ratio is currently 0.2 days. Approximately 7.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Smith Micro Software in a report on Monday, September 23rd. They issued a “hold” rating on the stock.

Smith Micro Software Trading Up 9.0 %

Shares of SMSI traded up $0.09 during mid-day trading on Friday, reaching $1.03. 1,063,363 shares of the stock traded hands, compared to its average volume of 1,330,260. Smith Micro Software has a 1 year low of $0.52 and a 1 year high of $10.64. The company has a market cap of $9.89 million, a price-to-earnings ratio of -0.19 and a beta of 0.66. The firm has a fifty day moving average price of $1.15 and a 200 day moving average price of $1.96.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.14). Smith Micro Software had a negative net margin of 163.04% and a negative return on equity of 23.88%. The business had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.40 million. During the same period in the previous year, the business earned ($0.24) EPS. On average, sell-side analysts anticipate that Smith Micro Software will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Smith Micro Software stock. Lindbrook Capital LLC lifted its holdings in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,250 shares of the software maker’s stock after purchasing an additional 5,000 shares during the quarter. Lindbrook Capital LLC owned 0.76% of Smith Micro Software worth $25,000 at the end of the most recent quarter. 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.