Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Large Growth in Short Interest

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large increase in short interest during the month of 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. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,331,265 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Smith Micro Software

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in 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 worth $115,000 after acquiring an additional 30,410 shares during the period. Renaissance Technologies LLC grew its position in shares of Smith Micro Software by 41.7% in the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after purchasing an additional 32,604 shares during the last quarter. DRW Securities LLC bought a new position in shares of Smith Micro Software in the fourth quarter worth about $40,000. Finally, Susquehanna International Group LLP boosted its stake in 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 valued at $31,000 after purchasing an additional 22,335 shares during the period. 20.80% of the stock is owned by institutional investors.

Smith Micro Software Stock Performance

Shares of SMSI traded down $0.06 during trading hours on Friday, hitting $0.73. 103,794 shares of the company were exchanged, compared to its average volume of 797,785. The firm’s 50 day moving average is $0.61 and its 200-day moving average is $0.64. Smith Micro Software has a 52 week low of $0.41 and a 52 week high of $1.30. The company has a market cap of $18.89 million, a PE ratio of -0.49 and a beta of 0.63.

Smith Micro Software (NASDAQ:SMSI) last posted its 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). The company had revenue of $3.97 million during the quarter, compared to analyst estimates of $4.30 million. Smith Micro Software had a negative return on equity of 52.96% and a negative net margin of 168.92%. As a group, equities analysts forecast that Smith Micro Software will post -1.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.