Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Significant Decrease in Short Interest

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 364,200 shares, a decline of 42.3% from the February 28th total of 630,800 shares. Based on an average daily volume of 401,100 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.7% of the shares of the company are sold short.

Smith Micro Software Trading Down 8.2 %

Shares of NASDAQ SMSI opened at $0.73 on Monday. Smith Micro Software has a one year low of $0.52 and a one year high of $3.21. The business has a fifty day simple moving average of $1.18 and a 200 day simple moving average of $1.05. The firm has a market capitalization of $13.01 million, a price-to-earnings ratio of -0.14 and a beta of 0.75.

Analysts Set New Price Targets

Separately, StockNews.com raised Smith Micro Software from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th.

Hedge Funds Weigh In On Smith Micro Software

A number of hedge funds have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC increased its stake in Smith Micro Software by 122.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock valued at $683,000 after acquiring an additional 286,540 shares during the period. Geode Capital Management LLC raised its holdings in shares of Smith Micro Software by 59.9% in the 4th quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock worth $181,000 after buying an additional 51,681 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Smith Micro Software during the 3rd quarter worth approximately $39,000. Jane Street Group LLC boosted its stake in 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 buying an additional 33,784 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Smith Micro Software in the third quarter valued at $26,000. 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.