Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Down 24.1% in May

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 194,000 shares, a decrease of 24.1% from the April 30th total of 255,500 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 190,700 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Smith Micro Software

Several hedge funds and other institutional investors have recently made changes to their positions in SMSI. Renaissance Technologies LLC increased its holdings in shares of Smith Micro Software by 60.9% during the fourth quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock valued at $58,000 after purchasing an additional 16,700 shares during the period. Two Sigma Investments LP grew its position in Smith Micro Software by 178.4% in the 4th quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock valued at $42,000 after buying an additional 20,321 shares in the last quarter. XTX Topco Ltd increased its stake in Smith Micro Software by 80.6% during the 4th quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after buying an additional 20,847 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Smith Micro Software during the 4th quarter worth about $32,000. Finally, Jane Street Group LLC raised its position in shares of Smith Micro Software by 190.9% during the 4th quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock worth $67,000 after buying an additional 33,784 shares in the last quarter. 20.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Smith Micro Software from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th.

Smith Micro Software Stock Up 0.8%

Smith Micro Software stock opened at $0.84 on Monday. Smith Micro Software has a 52-week low of $0.52 and a 52-week high of $2.57. The firm has a market capitalization of $16.27 million, a price-to-earnings ratio of -0.16 and a beta of 0.73. The firm has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.04.

Smith Micro Software Company Profile

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa. The company offers SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service provides deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language voice-to-text (VTT) transcription messaging.