Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 24.4% in February

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 630,800 shares, an increase of 24.4% from the February 13th total of 506,900 shares. Currently, 4.7% of the company’s stock are sold short. Based on an average trading volume of 392,600 shares, the short-interest ratio is presently 1.6 days.

Smith Micro Software Stock Performance

Shares of NASDAQ SMSI traded up $0.01 during midday trading on Tuesday, hitting $0.83. The company’s stock had a trading volume of 78,932 shares, compared to its average volume of 1,136,968. Smith Micro Software has a 1-year low of $0.52 and a 1-year high of $3.21. The firm’s fifty day moving average price is $1.27 and its 200-day moving average price is $1.04. The firm has a market cap of $9.83 million, a P/E ratio of -0.16 and a beta of 0.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of Smith Micro Software in the 3rd quarter valued at about $26,000. Raymond James Financial Inc. acquired a new position in Smith Micro Software during the 4th quarter valued at about $32,000. Virtu Financial LLC acquired a new position in Smith Micro Software during the 3rd quarter valued at about $39,000. Two Sigma Investments LP boosted its stake in Smith Micro Software by 178.4% during the 4th quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock valued at $42,000 after purchasing an additional 20,321 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Smith Micro Software by 60.9% during the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock valued at $58,000 after purchasing an additional 16,700 shares during the period. 20.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Smith Micro Software from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th.

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.