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

Smith Micro Software, Inc. (NASDAQ:SMSI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.31 and traded as high as $3.70. Smith Micro Software shares last traded at $3.69, with a volume of 27,952 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on SMSI shares. Weiss Ratings raised Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Benchmark boosted their price objective on shares of Smith Micro Software from $10.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Smith Micro Software currently has an average rating of “Hold” and a consensus target price of $12.50.

Smith Micro Software Stock Performance

The company has a market capitalization of $18.86 million, a PE ratio of -0.53 and a beta of 0.65. The firm’s 50-day simple moving average is $3.89 and its 200-day simple moving average is $3.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Smith Micro Software

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted 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 worth $115,000 after buying an additional 30,410 shares during the period. Renaissance Technologies LLC lifted 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 worth $60,000 after buying an additional 32,604 shares during the period. DRW Securities LLC purchased a new stake in shares of Smith Micro Software in the 4th quarter worth approximately $40,000. Finally, Susquehanna International Group LLP lifted its position 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 worth $31,000 after purchasing an additional 22,335 shares during the period. 20.80% of the stock is currently owned by hedge funds and other institutional investors.

About Smith Micro Software

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.