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

Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.64 and traded as high as $0.75. Smith Micro Software shares last traded at $0.7350, with a volume of 118,132 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Smith Micro Software in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Smith Micro Software presently has a consensus rating of “Sell”.

Smith Micro Software Trading Up 3.4%

The company has a market cap of $18.82 million, a PE ratio of -0.49 and a beta of 0.49. The business’s 50-day simple moving average is $0.66 and its 200-day simple moving average is $0.64.

Smith Micro Software (NASDAQ:SMSI) last released its earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Smith Micro Software had a negative return on equity of 52.96% and a negative net margin of 168.92%.The company had revenue of $3.97 million during the quarter, compared to analysts’ expectations of $4.30 million. On average, research analysts predict that Smith Micro Software, Inc. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP increased its stake in shares of 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 worth $31,000 after purchasing an additional 22,335 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Smith Micro Software during the 4th quarter worth $40,000. Geode Capital Management LLC increased its stake in shares of 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 worth $115,000 after purchasing an additional 30,410 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Smith Micro Software by 41.7% during the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after purchasing an additional 32,604 shares during the last quarter. Institutional investors and hedge funds 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.