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

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 756,400 shares, an increase of 38.6% from the August 31st total of 545,700 shares. Based on an average daily volume of 3,590,000 shares, the short-interest ratio is presently 0.2 days. Currently, 7.6% of the company’s shares are short sold.

Smith Micro Software Stock Performance

Smith Micro Software stock traded up $0.09 during mid-day trading on Friday, reaching $1.03. 1,063,363 shares of the company were exchanged, compared to its average volume of 1,330,260. The business has a fifty day moving average of $1.15 and a 200 day moving average of $1.96. Smith Micro Software has a 12-month low of $0.52 and a 12-month high of $10.64. The firm has a market cap of $9.89 million, a P/E ratio of -0.19 and a beta of 0.66.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). The business had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.40 million. Smith Micro Software had a negative return on equity of 23.88% and a negative net margin of 163.04%. During the same period in the previous year, the company posted ($0.24) earnings per share. Sell-side analysts predict that Smith Micro Software will post -1.84 EPS for the current year.

Institutional Trading of Smith Micro Software

A hedge fund recently raised its stake in Smith Micro Software stock. Lindbrook Capital LLC grew its holdings in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,250 shares of the software maker’s stock after purchasing an additional 5,000 shares during the quarter. Lindbrook Capital LLC owned approximately 0.76% of Smith Micro Software worth $25,000 at the end of the most recent quarter. 20.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Smith Micro Software in a research note on Monday, September 23rd. They issued a “hold” rating for the company.

About Smith Micro Software

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.