Smith Micro Software (NASDAQ:SMSI) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the software maker’s stock.

Separately, Benchmark dropped their price target on shares of Smith Micro Software from $28.00 to $20.00 and set a buy rating for the company in a research note on Friday, March 22nd.

Smith Micro Software Trading Up 0.6 %

NASDAQ SMSI opened at $1.95 on Friday. The company’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $5.88. The stock has a market cap of $18.74 million, a P/E ratio of -0.66 and a beta of 0.64. Smith Micro Software has a 52 week low of $1.88 and a 52 week high of $14.96.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.16). The company had revenue of $8.59 million during the quarter, compared to the consensus estimate of $8.86 million. Smith Micro Software had a negative return on equity of 13.46% and a negative net margin of 59.70%. During the same quarter last year, the firm posted ($0.80) EPS. On average, research analysts expect that Smith Micro Software will post -1.6 EPS for the current fiscal year.

Institutional Trading of Smith Micro Software

Several institutional investors have recently added to or reduced their stakes in SMSI. Millennium Management LLC bought a new stake in Smith Micro Software during the second quarter valued at $1,060,000. Pacific Ridge Capital Partners LLC increased its stake in Smith Micro Software by 21.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 2,128,190 shares of the software maker’s stock valued at $1,758,000 after purchasing an additional 374,963 shares during the last quarter. Renaissance Technologies LLC increased its stake in Smith Micro Software by 151.5% during the first quarter. Renaissance Technologies LLC now owns 500,397 shares of the software maker’s stock valued at $580,000 after purchasing an additional 301,397 shares during the last quarter. Vanguard Group Inc. increased its stake in Smith Micro Software by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,619,350 shares of the software maker’s stock valued at $9,875,000 after purchasing an additional 134,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Smith Micro Software by 38.7% during the first quarter. Dimensional Fund Advisors LP now owns 457,774 shares of the software maker’s stock valued at $1,726,000 after purchasing an additional 127,715 shares during the last quarter. Institutional investors own 20.80% of the company’s stock.

About Smith Micro Software

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.