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

by · The Cerbat Gem

Smith Micro Software, Inc. (NASDAQ:SMSI – Get Free Report) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 124,477 shares, a drop of 69.1% from the June 15th total of 402,891 shares. Based on an average daily volume of 104,476 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Smith Micro Software

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Smith Micro Software by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock valued at $115,000 after buying an additional 30,410 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Smith Micro Software by 41.7% during the fourth 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 during the last quarter. DRW Securities LLC bought a new stake in Smith Micro Software during the fourth quarter worth $40,000. Finally, Susquehanna International Group LLP boosted its position in 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 worth $31,000 after purchasing an additional 22,335 shares during the last quarter. 20.80% of the stock is owned by institutional investors.

Smith Micro Software Stock Up 0.8%

NASDAQ:SMSI traded up $0.02 during trading hours on Friday, hitting $2.68. 51,146 shares of the company traded hands, compared to its average volume of 145,425. 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 company has a market cap of $13.69 million, a PE ratio of -0.39 and a beta of 0.70. The firm’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.29. Smith Micro Software has a one year low of $2.05 and a one year high of $6.50.

Wall Street Analyst Weigh In

SMSI has been the topic of several research reports. Weiss Ratings upgraded shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Benchmark boosted 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 report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Check Out Our Latest Analysis on Smith Micro Software

About Smith Micro Software

(Get Free Report)

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.

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