Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Down 18.0% in April

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 223,466 shares, a decline of 18.0% from the March 31st total of 272,448 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 74,332 shares, the days-to-cover ratio is presently 3.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Smith Micro Software in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Smith Micro Software Stock Up 8.5%

SMSI traded up $0.07 during midday trading on Thursday, reaching $0.89. The company had a trading volume of 359,608 shares, compared to its average volume of 271,140. The business has a 50-day moving average of $0.70 and a two-hundred day moving average of $0.64. Smith Micro Software has a 1 year low of $0.41 and a 1 year high of $1.30. The company has a market cap of $22.72 million, a P/E ratio of -0.59 and a beta of 0.49.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.30 million. On average, equities research analysts predict that Smith Micro Software will post -0.21 EPS for the current year.

Institutional Trading of Smith Micro Software

Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP lifted its stake in shares of Smith Micro Software by 109.2% during the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after buying an additional 22,335 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Smith Micro Software during the fourth quarter worth about $40,000. Renaissance Technologies LLC lifted its holdings in Smith Micro Software by 41.7% in the 4th 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 worth $115,000 after purchasing an additional 30,410 shares in the last quarter. 20.80% of the stock is currently owned by institutional investors.

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.