Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Expands By 38.6%

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 756,400 shares, a growth of 38.6% from the August 31st total of 545,700 shares. Approximately 7.6% of the shares of the company are short sold. Based on an average daily trading volume, of 3,590,000 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Smith Micro Software

A hedge fund recently raised its stake in Smith Micro Software stock. Lindbrook Capital LLC boosted its position in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,250 shares of the software maker’s stock after buying an additional 5,000 shares during the quarter. Lindbrook Capital LLC owned 0.76% of Smith Micro Software worth $25,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Smith Micro Software in a research report on Monday. They set a “hold” rating for the company.

Smith Micro Software Trading Up 9.0 %

SMSI traded up $0.09 on Friday, reaching $1.03. The company had a trading volume of 1,058,368 shares, compared to its average volume of 1,330,260. Smith Micro Software has a one year low of $0.52 and a one year high of $10.64. The company has a market capitalization of $11.36 million, a P/E ratio of -0.19 and a beta of 0.66. The company has a fifty day moving average of $1.15 and a 200-day moving average of $1.97.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). Smith Micro Software had a negative net margin of 163.04% and a negative return on equity of 23.88%. The company had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.40 million. During the same quarter in the prior year, the business earned ($0.24) EPS. Research analysts predict that Smith Micro Software will post -1.84 EPS for the current year.

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.