Smith Micro Software (NASDAQ:SMSI) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Smith Micro Software (NASDAQ:SMSI) posted its quarterly earnings results on Wednesday. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01), FiscalAI reports. The company had revenue of $3.97 million during the quarter, compared to analyst estimates of $4.30 million. Smith Micro Software had a negative net margin of 158.88% and a negative return on equity of 44.44%.

Smith Micro Software Stock Up 3.8%

NASDAQ SMSI traded up $0.02 on Wednesday, hitting $0.54. The stock had a trading volume of 113,736 shares, compared to its average volume of 102,868. Smith Micro Software has a one year low of $0.41 and a one year high of $1.30. The stock has a market cap of $13.61 million, a price-to-earnings ratio of -0.35 and a beta of 0.63. The company’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.63.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Smith Micro Software

Large investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP grew its position in Smith Micro Software by 109.2% in the third 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 last quarter. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 30,410 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Smith Micro Software by 41.7% during the fourth 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, DRW Securities LLC purchased a new stake in shares of Smith Micro Software during the fourth quarter valued at $40,000. 20.80% of the stock is currently owned by institutional investors and hedge funds.

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.