Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Significant Growth in Short Interest

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 471,431 shares, an increase of 84.0% from the April 30th total of 256,209 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily trading volume, of 126,251 shares, the days-to-cover ratio is currently 3.7 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Benchmark upped their target price on shares of Smith Micro Software from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Smith Micro Software has a consensus rating of “Hold” and a consensus price target of $2.50.

Smith Micro Software Price Performance

NASDAQ SMSI traded down $0.04 on Wednesday, reaching $0.80. The company had a trading volume of 41,720 shares, compared to its average volume of 237,597. The stock has a market capitalization of $20.55 million, a PE ratio of -0.58 and a beta of 0.65. Smith Micro Software has a 12 month low of $0.41 and a 12 month high of $1.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $0.78 and its 200 day moving average price is $0.65.

Shares of Smith Micro Software are going to reverse split on Friday, June 5th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 4th.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Smith Micro Software had a negative return on equity of 55.78% and a negative net margin of 165.35%.The business had revenue of $3.97 million during the quarter, compared to analysts’ expectations of $4.30 million. As a group, equities analysts predict that Smith Micro Software will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On Smith Micro Software

A number of institutional investors and hedge funds have recently modified their holdings of SMSI. Geode Capital Management LLC raised its holdings in Smith Micro Software by 16.7% during 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 period. Renaissance Technologies LLC increased its position in Smith Micro Software by 41.7% during the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after acquiring an additional 32,604 shares during the last quarter. DRW Securities LLC bought a new position in Smith Micro Software during the fourth quarter valued at $40,000. Finally, Susquehanna International Group LLP raised its stake in shares of Smith Micro Software by 109.2% in the third 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 during the period. Hedge funds and other institutional investors own 20.80% of the company’s stock.

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.