Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Rises By 38.2%

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 246,544 shares, an increase of 38.2% from the February 26th total of 178,428 shares. Based on an average daily volume of 1,331,265 shares, the short-interest ratio is presently 0.2 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position 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 in the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $115,000 after purchasing an additional 30,410 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Smith Micro Software in the 4th quarter valued at $40,000. Finally, Susquehanna International Group LLP lifted 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 purchasing an additional 22,335 shares during the last quarter. 20.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Smith Micro Software in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Smith Micro Software Price Performance

Shares of SMSI opened at $0.72 on Tuesday. Smith Micro Software has a one year low of $0.41 and a one year high of $1.30. The company has a 50-day moving average of $0.61 and a two-hundred day moving average of $0.64. The stock has a market cap of $18.52 million, a price-to-earnings ratio of -0.48 and a beta of 0.63.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings results on Wednesday, March 4th. The software maker reported ($0.08) earnings per share 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 analyst estimates of $4.30 million. Analysts anticipate that Smith Micro Software will post -1.83 earnings per share for the current year.

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.