Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Rises By 36.6%

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 545,700 shares, an increase of 36.6% from the August 15th total of 399,600 shares. Based on an average trading volume of 92,100 shares, the short-interest ratio is currently 5.9 days. Approximately 5.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Smith Micro Software in a report on Sunday. They issued a “hold” rating for the company.

Smith Micro Software Stock Down 4.4 %

Smith Micro Software stock traded down $0.03 during trading hours on Friday, hitting $0.57. The stock had a trading volume of 102,076 shares, compared to its average volume of 136,510. The company has a 50-day moving average of $1.43 and a two-hundred day moving average of $2.11. The company has a market cap of $6.31 million, a PE ratio of -0.11 and a beta of 0.66. Smith Micro Software has a fifty-two week low of $0.52 and a fifty-two week high of $11.04.

Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Thursday, August 1st. The software maker reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). Smith Micro Software had a negative return on equity of 23.88% and a negative net margin of 163.04%. The company had revenue of $5.14 million during the quarter, compared to analyst estimates of $5.40 million. During the same period in the previous year, the company posted ($0.24) earnings per share. As a group, analysts forecast that Smith Micro Software will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Micro Software

A hedge fund recently raised its stake in Smith Micro Software stock. Pacific Ridge Capital Partners LLC lifted its stake in Smith Micro Software, Inc. (NASDAQ:SMSI) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,128,190 shares of the software maker’s stock after buying an additional 374,963 shares during the period. Pacific Ridge Capital Partners LLC owned about 2.96% of Smith Micro Software worth $1,758,000 at the end of the most recent reporting period. 20.80% of the stock is currently owned by institutional investors and hedge funds.

About Smith Micro Software

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.