Smith Micro Software (NASDAQ:SMSI) Posts Earnings Results

Smith Micro Software (NASDAQ:SMSI) released its earnings results on Thursday. The software maker reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.31, FiscalAI reports. Smith Micro Software had a negative return on equity of 55.78% and a negative net margin of 165.35%.The company had revenue of $4.34 million during the quarter, compared to analysts’ expectations of $4.85 million.

Smith Micro Software Stock Performance

Shares of SMSI stock traded down $0.15 on Thursday, hitting $2.89. 43,887 shares of the stock traded hands, compared to its average volume of 95,204. The company’s fifty day moving average is $2.85 and its 200 day moving average is $3.26. Smith Micro Software has a 1-year low of $2.05 and a 1-year high of $4.64. The company has a market capitalization of $16.16 million, a PE ratio of -0.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.37 and a quick ratio of 1.37.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Smith Micro Software by 41.7% in the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after acquiring an additional 32,604 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Smith Micro Software by 16.7% during the fourth 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 last quarter. DRW Securities LLC acquired a new position in shares of Smith Micro Software during the fourth quarter worth approximately $40,000. Finally, Susquehanna International Group LLP grew its holdings in 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 buying an additional 22,335 shares in the last quarter. 20.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on SMSI shares. Benchmark increased 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 note on Friday, May 1st. Weiss Ratings lowered shares of Smith Micro Software from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Smith Micro Software has a consensus rating of “Hold” and a consensus target price of $12.50.

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.