Smith Micro Software, Inc. (NASDAQ:SMSI) shares fell 5.9% on Monday . The stock traded as low as $5.92 and last traded at $6.23, 1,395,087 shares traded hands during trading. An increase of 194% from the average session volume of 473,865 shares. The stock had previously closed at $6.62.
A number of research analysts have weighed in on the stock. ValuEngine lowered shares of Smith Micro Software from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. B. Riley assumed coverage on shares of Smith Micro Software in a research report on Friday, July 19th. They set a “buy” rating and a $5.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research upgraded shares of Smith Micro Software from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Saturday, July 27th. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $4.44.
The company has a debt-to-equity ratio of 0.21, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a fifty day moving average price of $5.99 and a two-hundred day moving average price of $3.65. The company has a market cap of $230.21 million, a P/E ratio of -41.43 and a beta of 0.45.
Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Thursday, July 25th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Smith Micro Software had a return on equity of 26.71% and a net margin of 15.99%. The company had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $8.65 million. Equities analysts predict that Smith Micro Software, Inc. will post 0.23 earnings per share for the current fiscal year.
In other Smith Micro Software news, CFO Timothy C. Huffmyer sold 42,000 shares of Smith Micro Software stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $5.48, for a total transaction of $230,160.00. Following the transaction, the chief financial officer now directly owns 239,343 shares of the company’s stock, valued at approximately $1,311,599.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas G. Campbell sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $6.19, for a total transaction of $123,800.00. Following the completion of the sale, the director now owns 37,000 shares of the company’s stock, valued at approximately $229,030. The disclosure for this sale can be found here. Corporate insiders own 24.79% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in Smith Micro Software by 75.8% during the first quarter. Acadian Asset Management LLC now owns 105,713 shares of the software maker’s stock worth $296,000 after purchasing an additional 45,590 shares during the last quarter. BlackRock Inc. grew its position in Smith Micro Software by 14.4% in the 2nd quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock worth $1,268,000 after purchasing an additional 52,439 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Smith Micro Software by 26.2% in the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after buying an additional 194,019 shares during the last quarter. 6.94% of the stock is currently owned by institutional investors.
Smith Micro Software Company Profile (NASDAQ:SMSI)
Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.
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