Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Down 69.1% in June

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 124,477 shares, a decline of 69.1% from the June 15th total of 402,891 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 104,476 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on SMSI. Weiss Ratings raised shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. Benchmark raised their price target on shares of Smith Micro Software from $10.00 to $12.50 and gave the company a “buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

Smith Micro Software Stock Performance

Smith Micro Software stock traded down $0.06 during trading hours on Tuesday, reaching $2.54. 9,450 shares of the company were exchanged, compared to its average volume of 106,510. Smith Micro Software has a 12 month low of $2.05 and a 12 month high of $5.85. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $3.51 and a 200 day moving average of $3.29. The firm has a market cap of $12.95 million, a price-to-earnings ratio of -0.37 and a beta of 0.70.

Institutional Investors Weigh In On Smith Micro Software

Several hedge funds and other institutional investors have recently made changes to their positions in SMSI. DRW Securities LLC bought a new position in shares of Smith Micro Software in the fourth quarter worth about $40,000. Renaissance Technologies LLC increased its position 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 buying an additional 32,604 shares during the period. Geode Capital Management LLC increased 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 worth $115,000 after buying an additional 30,410 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in shares of 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 worth $31,000 after buying an additional 22,335 shares during the last quarter. 20.80% of the stock is owned by institutional investors and hedge funds.

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.