Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 18.8% in February

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 306,665 shares, an increase of 18.8% from the January 29th total of 258,089 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 96,357 shares, the short-interest ratio is presently 3.2 days. Based on an average trading volume of 96,357 shares, the short-interest ratio is presently 3.2 days. Approximately 1.7% of the shares of the company are sold short.

Hedge Funds Weigh In On Smith Micro Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP lifted its holdings in shares of 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 valued at $31,000 after buying an additional 22,335 shares during the period. DRW Securities LLC purchased a new stake in shares of Smith Micro Software during the 4th quarter worth $40,000. Renaissance Technologies LLC grew its stake in shares of Smith Micro Software by 41.7% during the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after purchasing an additional 32,604 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Smith Micro Software by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock valued at $115,000 after purchasing an additional 30,410 shares during the period. Institutional investors and hedge funds own 20.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Smith Micro Software in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Smith Micro Software Trading Up 3.8%

Shares of SMSI stock opened at $0.54 on Thursday. The company has a market capitalization of $13.61 million, a P/E ratio of -0.35 and a beta of 0.63. The business’s 50 day moving average is $0.54 and its two-hundred day moving average is $0.63. Smith Micro Software has a twelve month low of $0.41 and a twelve month high of $1.30.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Smith Micro Software had a negative return on equity of 44.44% and a negative net margin of 158.88%.The company had revenue of $3.97 million for the quarter, compared to analyst estimates of $4.30 million. As a group, equities analysts predict that Smith Micro Software will post -1.83 earnings per share for the current fiscal 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.