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

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

Smith Micro Software Stock Performance

SMSI stock opened at $0.73 on Friday. The company’s 50 day moving average price is $1.18 and its 200 day moving average price is $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. Smith Micro Software has a fifty-two week low of $0.52 and a fifty-two week high of $3.21.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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

A number of hedge funds and other institutional investors have recently modified their holdings of SMSI. Renaissance Technologies LLC grew its stake in shares of Smith Micro Software by 60.9% during the fourth 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 in the last quarter. Two Sigma Investments LP lifted its holdings in Smith Micro Software by 178.4% during the 4th quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock worth $42,000 after buying an additional 20,321 shares during the last quarter. XTX Topco Ltd boosted its position 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 worth $61,000 after acquiring an additional 20,847 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Smith Micro Software in the 4th quarter valued at about $32,000. Finally, Jane Street Group LLC raised its position in shares of Smith Micro Software by 190.9% during the 4th quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock worth $67,000 after acquiring an additional 33,784 shares in the last quarter. 20.80% of the stock is currently owned by institutional investors and hedge funds.

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.