Smith Micro Software (NASDAQ:SMSI) Rating Increased to Hold at StockNews.com

Smith Micro Software (NASDAQ:SMSI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Smith Micro Software in a report on Thursday, November 14th.

Smith Micro Software Stock Down 34.1 %

NASDAQ:SMSI traded down $0.37 during mid-day trading on Wednesday, hitting $0.71. 2,075,672 shares of the stock traded hands, compared to its average volume of 356,374. The stock has a market capitalization of $8.40 million, a price-to-earnings ratio of -0.14 and a beta of 0.75. Smith Micro Software has a 52 week low of $0.52 and a 52 week high of $3.21. The firm’s 50 day moving average is $1.31 and its two-hundred day moving average is $1.03.

Hedge Funds Weigh In On Smith Micro Software

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in shares of Smith Micro Software in the third quarter valued at approximately $26,000. Virtu Financial LLC bought a new stake in Smith Micro Software during the 3rd quarter valued at $39,000. Raymond James Financial Inc. purchased a new stake in shares of Smith Micro Software in the 4th quarter worth $32,000. Pacific Ridge Capital Partners LLC grew its position in shares of Smith Micro Software by 122.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock worth $683,000 after buying an additional 286,540 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Smith Micro Software by 59.9% during the fourth quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock valued at $181,000 after buying an additional 51,681 shares during the period. 20.80% of the stock is currently owned by institutional investors.

Smith Micro Software Company Profile

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.