StockNews.com Upgrades Smith Micro Software (NASDAQ:SMSI) to “Hold”

Smith Micro Software (NASDAQ:SMSI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Smith Micro Software in a report on Thursday, November 14th.

Smith Micro Software Stock Performance

SMSI opened at $0.73 on Wednesday. Smith Micro Software has a 1 year low of $0.52 and a 1 year high of $3.21. The company’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.03. The stock has a market capitalization of $8.66 million, a PE ratio of -0.14 and a beta of 0.75.

Hedge Funds Weigh In On Smith Micro Software

Several hedge funds and other institutional investors have recently modified their holdings of SMSI. Pacific Ridge Capital Partners LLC increased its position in Smith Micro Software by 122.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock worth $683,000 after purchasing an additional 286,540 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Smith Micro Software by 59.9% in the fourth quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock worth $181,000 after acquiring an additional 51,681 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Smith Micro Software by 190.9% in the 4th quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock valued at $67,000 after acquiring an additional 33,784 shares during the period. XTX Topco Ltd lifted its holdings in shares of Smith Micro Software by 80.6% during the 4th quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after acquiring an additional 20,847 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Smith Micro Software by 60.9% during the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock worth $58,000 after purchasing an additional 16,700 shares during the period. 20.80% of the stock is owned by institutional investors and hedge funds.

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.