Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Update

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 630,800 shares, a growth of 24.4% from the February 13th total of 506,900 shares. Currently, 4.7% of the company’s stock are sold short. Based on an average daily trading volume, of 392,600 shares, the days-to-cover ratio is presently 1.6 days.

Smith Micro Software Price Performance

Shares of SMSI stock opened at $0.82 on Wednesday. Smith Micro Software has a 1-year low of $0.52 and a 1-year high of $3.21. The stock’s 50-day moving average is $1.25 and its 200 day moving average is $1.04. The company has a market cap of $9.70 million, a P/E ratio of -0.16 and a beta of 0.75.

Institutional Investors Weigh In On Smith Micro Software

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Smith Micro Software in the fourth quarter worth about $32,000. XTX Topco Ltd acquired a new stake in Smith Micro Software in the third quarter worth about $26,000. Two Sigma Investments LP boosted its holdings in Smith Micro Software by 178.4% in the fourth quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock worth $42,000 after acquiring an additional 20,321 shares in the last quarter. Virtu Financial LLC acquired a new stake in Smith Micro Software in the third quarter worth about $39,000. Finally, Renaissance Technologies LLC boosted its holdings in Smith Micro Software by 60.9% in the fourth quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock worth $58,000 after acquiring an additional 16,700 shares in the last quarter. Institutional investors and hedge funds own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.