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

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant growth in short interest in December. As of December 15th, there was short interest totaling 309,176 shares, a growth of 39.1% from the November 30th total of 222,244 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 77,996 shares, the short-interest ratio is presently 4.0 days. Based on an average daily trading volume, of 77,996 shares, the short-interest ratio is presently 4.0 days. Currently, 1.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Smith Micro Software

An institutional investor recently raised its position in Smith Micro Software stock. Susquehanna International Group LLP increased its stake in Smith Micro Software, Inc. (NASDAQ:SMSI) by 109.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,780 shares of the software maker’s stock after purchasing an additional 22,335 shares during the period. Susquehanna International Group LLP owned 0.20% of Smith Micro Software worth $31,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 20.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Smith Micro Software in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Smith Micro Software Trading Down 0.2%

NASDAQ SMSI opened at $0.57 on Tuesday. The firm’s fifty day simple moving average is $0.62 and its two-hundred day simple moving average is $0.73. The firm has a market capitalization of $14.37 million, a P/E ratio of -0.37 and a beta of 0.61. Smith Micro Software has a 12-month low of $0.53 and a 12-month high of $1.95.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Smith Micro Software had a negative return on equity of 44.44% and a negative net margin of 158.88%.The firm had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $4.75 million. As a group, sell-side analysts predict that Smith Micro Software will post -1.83 earnings per share for the current fiscal year.

About Smith Micro Software

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.