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

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMSI. Weiss Ratings upgraded shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Benchmark lifted their target price on shares of Smith Micro Software from $10.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Smith Micro Software Trading Up 0.8%

SMSI traded up $0.02 during trading on Friday, hitting $2.68. The company’s stock had a trading volume of 51,146 shares, compared to its average volume of 145,425. Smith Micro Software has a twelve month low of $2.05 and a twelve month high of $6.50. 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 stock’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.29. The firm has a market capitalization of $13.69 million, a P/E ratio of -0.39 and a beta of 0.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Smith Micro Software by 16.7% in the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock valued at $115,000 after purchasing an additional 30,410 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after buying an additional 32,604 shares during the period. DRW Securities LLC acquired a new stake in shares of Smith Micro Software in the 4th quarter valued at about $40,000. Finally, Susquehanna International Group LLP increased its position 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 buying an additional 22,335 shares in the last quarter. 20.80% of the stock is 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.