Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Large Growth in Short Interest

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 246,544 shares, a growth of 38.2% from the February 26th total of 178,428 shares. Based on an average daily volume of 1,331,265 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.4% of the shares of the stock are short sold.

Smith Micro Software Stock Performance

SMSI traded down $0.06 during trading on Friday, reaching $0.73. The company had a trading volume of 103,794 shares, compared to its average volume of 797,785. The firm’s 50-day simple moving average is $0.61 and its 200 day simple moving average is $0.64. The company has a market cap of $18.89 million, a price-to-earnings ratio of -0.49 and a beta of 0.63. Smith Micro Software has a 12-month low of $0.41 and a 12-month high of $1.30.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $3.97 million for the quarter, compared to analysts’ expectations of $4.30 million. Smith Micro Software had a negative net margin of 168.92% and a negative return on equity of 52.96%. On average, sell-side analysts expect that Smith Micro Software will post -1.83 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Smith Micro Software in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Smith Micro Software

A number of hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP lifted its position in Smith Micro Software by 109.2% in the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock worth $31,000 after buying an additional 22,335 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Smith Micro Software by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after acquiring an additional 30,410 shares in the last quarter. Renaissance Technologies LLC boosted its position in Smith Micro Software by 41.7% during the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after purchasing an additional 32,604 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in Smith Micro Software during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 20.80% of the company’s stock.

About Smith Micro Software

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.