Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 24.4% in February

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 630,800 shares, a growth of 24.4% from the February 13th total of 506,900 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 392,600 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Smith Micro Software during the third quarter worth about $26,000. Raymond James Financial Inc. acquired a new position in Smith Micro Software in the 4th quarter valued at $32,000. Virtu Financial LLC purchased a new position in shares of Smith Micro Software during the 3rd quarter worth $39,000. Two Sigma Investments LP lifted its stake in shares of Smith Micro Software by 178.4% during the 4th quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock worth $42,000 after purchasing an additional 20,321 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Smith Micro Software by 60.9% during the fourth quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock worth $58,000 after purchasing an additional 16,700 shares during the last quarter. Institutional investors and hedge funds own 20.80% of the company’s stock.

Smith Micro Software Trading Up 2.3 %

Shares of NASDAQ:SMSI traded up $0.02 on Monday, hitting $0.76. The company had a trading volume of 25,188 shares, compared to its average volume of 345,440. The company has a market cap of $9.05 million, a PE ratio of -0.15 and a beta of 0.75. Smith Micro Software has a 52-week low of $0.52 and a 52-week high of $3.21. The business has a 50 day moving average of $1.29 and a 200 day moving average of $1.04.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Smith Micro Software from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th.

Smith Micro Software Company Profile

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.