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

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 471,431 shares, an increase of 84.0% from the April 30th total of 256,209 shares. Based on an average daily volume of 126,251 shares, the short-interest ratio is presently 3.7 days. Approximately 2.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Smith Micro Software

Institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP increased its stake 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 during the period. DRW Securities LLC purchased a new position in Smith Micro Software in the 4th quarter worth about $40,000. Renaissance Technologies LLC increased its stake in Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after buying an additional 32,604 shares during the period. Finally, Geode Capital Management LLC increased its stake in Smith Micro Software by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after buying an additional 30,410 shares during the period. Institutional investors own 20.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SMSI shares. Weiss Ratings downgraded shares of Smith Micro Software from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. Benchmark boosted their price target on shares of Smith Micro Software from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Smith Micro Software Price Performance

Shares of NASDAQ SMSI opened at $0.88 on Tuesday. Smith Micro Software has a 1 year low of $0.41 and a 1 year high of $1.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.37 and a quick ratio of 1.37. The company’s 50-day moving average is $0.78 and its 200 day moving average is $0.65. The stock has a market capitalization of $22.49 million, a P/E ratio of -0.64 and a beta of 0.65.

Smith Micro Software’s stock is scheduled to reverse split on the morning of Friday, June 5th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, June 4th.

Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $3.97 million during the quarter, compared to the consensus estimate of $4.30 million. Smith Micro Software had a negative return on equity of 55.78% and a negative net margin of 165.35%. On average, sell-side analysts expect that Smith Micro Software will post -0.21 earnings per share for the current year.

Smith Micro Software Company Profile

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.