Smith Micro Software (NASDAQ:SMSI) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Smith Micro Software, Inc. (NASDAQ:SMSI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.64 and traded as high as $0.7251. Smith Micro Software shares last traded at $0.6896, with a volume of 76,223 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Smith Micro Software in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Smith Micro Software Stock Performance

The company has a market cap of $17.76 million, a PE ratio of -0.46 and a beta of 0.49. The firm’s 50 day moving average is $0.63 and its 200-day moving average is $0.64.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Smith Micro Software had a negative net margin of 168.92% and a negative return on equity of 52.96%. The business had revenue of $3.97 million for the quarter, compared to analysts’ expectations of $4.30 million. On average, analysts predict that Smith Micro Software, Inc. will post -1.83 EPS for the current year.

Institutional Trading of Smith Micro Software

Several hedge funds have recently made changes to their positions in SMSI. DRW Securities LLC purchased a new stake in shares of Smith Micro Software in the 4th quarter valued at approximately $40,000. Renaissance Technologies LLC grew its stake 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 valued at $60,000 after buying an additional 32,604 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $115,000 after buying an additional 30,410 shares during the period. Finally, Susquehanna International Group LLP grew its stake 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 valued at $31,000 after buying 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.