Shares of Smith Micro Software Inc. (NASDAQ:SMSI) shot up 12.5% during mid-day trading on Thursday . The company traded as high as $2.61 and last traded at $2.61, with a volume of 52,732 shares changing hands. The stock had previously closed at $2.32.

Separately, Zacks Investment Research upgraded shares of Smith Micro Software from a “sell” rating to a “hold” rating in a research note on Thursday, May 19th.

The stock’s 50 day moving average price is $2.59 and its 200-day moving average price is $2.63. The stock’s market cap is $128.66 million.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Monday, July 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $7.70 million. Equities research analysts forecast that Smith Micro Software Inc. will post ($0.48) EPS for the current fiscal year.

Smith Micro Software, Inc is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. It also develops two-dimensional (2D) and three-dimensional (3D) graphics software used by professional artists, animators, illustrators and designers. The Company operates through two segments: Wireless and Graphics.

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