Smith Micro Software (NASDAQ:SMSI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Smith Micro Software, Inc. (NASDAQ:SMSI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.25 and traded as high as $1.40. Smith Micro Software shares last traded at $1.31, with a volume of 280,979 shares.

Analysts Set New Price Targets

SMSI has been the subject of a number of recent analyst reports. StockNews.com downgraded Smith Micro Software from a “hold” rating to a “sell” rating in a report on Saturday, December 21st. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a research report on Thursday, November 14th.

Smith Micro Software Trading Down 5.8 %

The firm’s fifty day moving average price is $0.91 and its 200-day moving average price is $1.25. The company has a market cap of $15.53 million, a price-to-earnings ratio of -0.25 and a beta of 0.76.

Institutional Investors Weigh In On Smith Micro Software

An institutional investor recently bought a new position in Smith Micro Software stock. Virtu Financial LLC bought a new position in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,961 shares of the software maker’s stock, valued at approximately $39,000. Virtu Financial LLC owned approximately 0.32% of Smith Micro Software as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 20.80% of the company’s stock.

About Smith Micro Software

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa. The company offers SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service provides deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language voice-to-text (VTT) transcription messaging.