Smith Micro Software (NASDAQ:SMSI) Shares Cross Above 200 Day Moving Average – What’s Next?

Smith Micro Software, Inc. (NASDAQ:SMSI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.64 and traded as high as $0.83. Smith Micro Software shares last traded at $0.8102, with a volume of 87,349 shares trading hands.

Wall Street Analyst Weigh In

SMSI has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Smith Micro Software from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Benchmark upped their price objective on shares of Smith Micro Software from $2.00 to $2.50 and gave the company a “buy” rating in a research report 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.50.

Smith Micro Software Stock Performance

The stock has a market capitalization of $20.09 million, a price-to-earnings ratio of -0.57 and a beta of 0.66. 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’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.65.

Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $3.97 million during the quarter, compared to analyst estimates of $4.30 million. Smith Micro Software had a negative return on equity of 55.78% and a negative net margin of 165.35%. Analysts expect that Smith Micro Software, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Smith Micro Software

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Smith Micro Software by 41.7% during 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 last quarter. Geode Capital Management LLC boosted its stake in shares of 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 worth $115,000 after buying an additional 30,410 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Smith Micro Software during the 4th quarter worth about $40,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Smith Micro Software by 109.2% during the 3rd 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 currently 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.