Smith Micro Software (NASDAQ:SMSI) Shares Gap Down to $5.70

Smith Micro Software, Inc. (NASDAQ:SMSI) shares gapped down before the market opened on Monday . The stock had previously closed at $5.55, but opened at $5.70. Smith Micro Software shares last traded at $5.39, with a volume of 15,472 shares traded.

A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Smith Micro Software from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a research note on Tuesday, July 23rd. B. Riley set a $8.50 target price on shares of Smith Micro Software and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research lowered shares of Smith Micro Software from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.75.

The company has a market capitalization of $230.21 million, a PE ratio of -37.86 and a beta of 0.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.16 and a quick ratio of 4.16. The company’s 50 day simple moving average is $5.69 and its 200 day simple moving average is $4.34.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The company had revenue of $11.78 million for the quarter, compared to analyst estimates of $11.18 million. Smith Micro Software had a net margin of 25.64% and a return on equity of 38.75%. On average, equities analysts forecast that Smith Micro Software, Inc. will post 0.22 EPS for the current year.

In related news, CFO Timothy C. Huffmyer sold 42,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $5.48, for a total transaction of $230,160.00. Following the completion of the sale, the chief financial officer now directly owns 239,343 shares of the company’s stock, valued at $1,311,599.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas G. Campbell sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $6.19, for a total value of $123,800.00. Following the sale, the director now directly owns 37,000 shares of the company’s stock, valued at $229,030. The disclosure for this sale can be found here. Company insiders own 24.79% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of Smith Micro Software by 3.4% during the 2nd quarter. Acadian Asset Management LLC now owns 109,336 shares of the software maker’s stock worth $332,000 after buying an additional 3,623 shares during the period. BlackRock Inc. increased its holdings in Smith Micro Software by 14.4% during the 2nd quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock valued at $1,268,000 after purchasing an additional 52,439 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Smith Micro Software by 26.2% during the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after purchasing an additional 194,019 shares in the last quarter. 7.08% of the stock is owned by hedge funds and other institutional investors.

Smith Micro Software Company Profile (NASDAQ:SMSI)

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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