Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Expands By 38.2%

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 246,544 shares, a growth of 38.2% from the February 26th total of 178,428 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,331,265 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

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, Based on data from MarketBeat.com, Smith Micro Software presently has a consensus rating of “Sell”.

Smith Micro Software Stock Performance

SMSI stock traded down $0.01 during midday trading on Monday, hitting $0.72. 130,490 shares of the company’s stock were exchanged, compared to its average volume of 334,319. The stock’s fifty day moving average price is $0.61 and its 200-day moving average price is $0.64. The company has a market cap of $18.52 million, a PE ratio of -0.48 and a beta of 0.63. Smith Micro Software has a one year low of $0.41 and a one year high of $1.30.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Smith Micro Software had a negative return on equity of 52.96% and a negative net margin of 168.92%.The business had revenue of $3.97 million during the quarter, compared to the consensus estimate of $4.30 million. On average, analysts expect that Smith Micro Software will post -1.83 EPS for the current year.

Institutional Investors Weigh In On Smith Micro Software

A number of hedge funds and other institutional investors have recently made changes to their positions in SMSI. DRW Securities LLC acquired a new stake in shares of Smith Micro Software in the 4th quarter valued at about $40,000. Renaissance Technologies LLC grew its holdings 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 buying an additional 32,604 shares in the last quarter. Geode Capital Management LLC raised its position 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. Finally, Susquehanna International Group LLP lifted its stake in 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 acquiring an additional 22,335 shares in the last quarter. 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.