Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Down 42.3% in March

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

Smith Micro Software Stock Down 8.2 %

NASDAQ SMSI traded down $0.07 during trading hours on Friday, reaching $0.73. 166,143 shares of the company were exchanged, compared to its average volume of 1,144,674. The stock has a market capitalization of $13.01 million, a P/E ratio of -0.14 and a beta of 0.75. Smith Micro Software has a 1 year low of $0.52 and a 1 year high of $3.21. The business’s 50 day simple moving average is $1.18 and its 200-day simple moving average is $1.05.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Smith Micro Software

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Smith Micro Software in the third quarter worth about $26,000. Virtu Financial LLC purchased a new stake in shares of Smith Micro Software during the third quarter worth $39,000. Raymond James Financial Inc. purchased a new stake in shares of Smith Micro Software during the fourth quarter worth $32,000. Pacific Ridge Capital Partners LLC grew its position in shares of 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 purchasing an additional 286,540 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 valued at $181,000 after purchasing an additional 51,681 shares in the last quarter. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

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.