Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Grows By 39.1%

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 309,176 shares, an increase of 39.1% from the November 30th total of 222,244 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 77,996 shares, the short-interest ratio is presently 4.0 days. Based on an average trading volume of 77,996 shares, the short-interest ratio is presently 4.0 days. Approximately 1.7% of the shares of the stock are short sold.

Smith Micro Software Price Performance

SMSI stock traded up $0.00 during trading on Wednesday, reaching $0.56. 11,737 shares of the stock traded hands, compared to its average volume of 307,045. The business’s 50 day moving average price is $0.62 and its 200-day moving average price is $0.73. The firm has a market capitalization of $14.09 million, a PE ratio of -0.36 and a beta of 0.61. Smith Micro Software has a 52-week low of $0.53 and a 52-week high of $1.95.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). Smith Micro Software had a negative return on equity of 44.44% and a negative net margin of 158.88%.The firm had revenue of $4.35 million during the quarter, compared to the consensus estimate of $4.75 million. On average, equities research analysts predict that Smith Micro Software will post -1.83 earnings per share for the current year.

Institutional Investors Weigh In On Smith Micro Software

An institutional investor recently raised its position in Smith Micro Software stock. Susquehanna International Group LLP boosted its position in Smith Micro Software, Inc. (NASDAQ:SMSI) by 109.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,780 shares of the software maker’s stock after purchasing an additional 22,335 shares during the quarter. Susquehanna International Group LLP owned about 0.20% of Smith Micro Software worth $31,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Smith Micro Software in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Smith Micro Software Company Profile

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.