Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Down 42.3% in March

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 364,200 shares, a drop of 42.3% from the February 28th total of 630,800 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 401,100 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Smith Micro Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Smith Micro Software by 60.9% in the fourth quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock valued at $58,000 after acquiring an additional 16,700 shares during the period. Two Sigma Investments LP grew its position in Smith Micro Software by 178.4% in 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. XTX Topco Ltd increased its stake in Smith Micro Software by 80.6% during the 4th quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after purchasing an additional 20,847 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Smith Micro Software during the fourth quarter worth $32,000. Finally, Jane Street Group LLC lifted its stake in shares of Smith Micro Software by 190.9% in the fourth quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock valued at $67,000 after buying an additional 33,784 shares in the last quarter. 20.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Smith Micro Software Stock Performance

Shares of SMSI stock traded down $0.07 during trading hours on Friday, hitting $0.73. 166,143 shares of the company were exchanged, compared to its average volume of 1,144,674. The company has a 50 day simple moving average of $1.18 and a two-hundred day simple moving average of $1.05. The firm has a market cap of $13.01 million, a P/E ratio of -0.14 and a beta of 0.75. Smith Micro Software has a fifty-two week low of $0.52 and a fifty-two week high of $3.21.

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.