Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Grows By 18.8%
by Mitch Edgeman · The Markets DailySmith Micro Software, Inc. (NASDAQ:SMSI – Get Free Report) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 306,665 shares, an increase of 18.8% from the January 29th total of 258,089 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily volume of 96,357 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily volume of 96,357 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.7% of the shares of the company are short sold.
Smith Micro Software Stock Down 1.1%
Shares of NASDAQ SMSI opened at $0.52 on Wednesday. The stock has a market capitalization of $13.11 million, a price-to-earnings ratio of -0.33 and a beta of 0.63. Smith Micro Software has a 52 week low of $0.41 and a 52 week high of $1.30. The firm has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.63.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Smith Micro Software in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.
Read Our Latest Research Report on SMSI
Institutional Investors 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 fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after purchasing an additional 30,410 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Smith Micro Software by 41.7% during the 4th 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 in the last quarter. DRW Securities LLC acquired a new position in Smith Micro Software during the fourth quarter worth about $40,000. Finally, Susquehanna International Group LLP lifted its holdings 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 purchasing an additional 22,335 shares in the last quarter. Institutional investors and hedge funds own 20.80% of the company’s stock.
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.