Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Declines By 41.8%

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 178,428 shares, a decline of 41.8% from the February 12th total of 306,665 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 108,522 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 108,522 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the company’s stock are sold short.

Institutional Investors Weigh In On Smith Micro Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP grew its holdings in Smith Micro Software by 109.2% during the third quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after purchasing an additional 22,335 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Smith Micro Software during the 4th quarter worth $40,000. Renaissance Technologies LLC boosted its holdings 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 buying an additional 32,604 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $115,000 after buying an additional 30,410 shares during the last quarter. 20.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Smith Micro Software in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Smith Micro Software Trading Up 4.2%

Shares of NASDAQ:SMSI opened at $0.76 on Thursday. The stock has a market capitalization of $19.52 million, a PE ratio of -0.50 and a beta of 0.63. Smith Micro Software has a 1 year low of $0.41 and a 1 year high of $1.30. The firm has a fifty day moving average price of $0.55 and a 200 day moving average price of $0.63.

Smith Micro Software (NASDAQ:SMSI) last posted its 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 net margin of 168.92% and a negative return on equity of 52.96%. The company had revenue of $3.97 million for the quarter, compared to the consensus estimate of $4.30 million. On average, sell-side analysts forecast that Smith Micro Software will post -1.83 earnings per share for the current fiscal year.

About Smith Micro Software

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.