Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Update

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 471,431 shares, an increase of 84.0% from the April 30th total of 256,209 shares. Based on an average daily trading volume, of 126,251 shares, the short-interest ratio is presently 3.7 days. Approximately 2.8% of the company’s stock are short sold.

Smith Micro Software Stock Down 4.4%

NASDAQ:SMSI opened at $0.81 on Thursday. The company has a market cap of $20.58 million, a PE ratio of -0.58 and a beta of 0.65. Smith Micro Software has a twelve month low of $0.41 and a twelve month high of $1.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.66.

Shares of Smith Micro Software are set to reverse split before the market opens on Friday, June 5th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, June 4th.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SMSI shares. Weiss Ratings raised shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Benchmark lifted their price objective on shares of Smith Micro Software from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.50.

Institutional Trading of Smith Micro Software

Several large investors have recently bought and sold shares of the stock. DRW Securities LLC acquired a new stake in Smith Micro Software during the 4th quarter valued at approximately $40,000. Renaissance Technologies LLC lifted its stake in Smith Micro Software by 41.7% during the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after acquiring an additional 32,604 shares during the period. Geode Capital Management LLC lifted its stake in Smith Micro Software by 16.7% during the 4th quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock valued at $115,000 after acquiring an additional 30,410 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in Smith Micro Software by 109.2% during the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after acquiring an additional 22,335 shares during the period. Hedge funds and other institutional investors own 20.80% of the company’s stock.

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.