Smith Micro Software (NASDAQ:SMSI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Smith Micro Software, Inc. (NASDAQ:SMSI) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.64 and traded as high as $0.83. Smith Micro Software shares last traded at $0.8102, with a volume of 87,349 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMSI. Weiss Ratings raised Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Benchmark upped their price target on Smith Micro Software from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Smith Micro Software presently has an average rating of “Hold” and an average price target of $2.50.

Smith Micro Software Trading Down 2.5%

The company has a 50 day moving average price of $0.77 and a 200 day moving average price of $0.64. The firm has a market cap of $20.71 million, a price-to-earnings ratio of -0.59 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.37 and a current ratio of 1.37.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $3.97 million during the quarter, compared to analysts’ expectations of $4.30 million. Smith Micro Software had a negative net margin of 165.35% and a negative return on equity of 55.78%. On average, research analysts expect that Smith Micro Software, Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Smith Micro Software

Several institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC purchased a new stake in shares of Smith Micro Software in the 4th quarter valued at $40,000. Renaissance Technologies LLC raised its holdings in shares of Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after buying an additional 32,604 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 period. Finally, Susquehanna International Group LLP raised its holdings in shares of Smith Micro Software by 109.2% in the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after buying an additional 22,335 shares during the period. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

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.