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

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 364,200 shares, a decline of 42.3% from the February 28th total of 630,800 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average trading volume of 401,100 shares, the short-interest ratio is presently 0.9 days.

Smith Micro Software Stock Down 8.2 %

Shares of NASDAQ SMSI opened at $0.73 on Monday. Smith Micro Software has a 12-month low of $0.52 and a 12-month high of $3.21. The firm’s 50-day simple moving average is $1.18 and its 200 day simple moving average is $1.05. The company has a market cap of $13.01 million, a price-to-earnings ratio of -0.14 and a beta of 0.75.

Hedge Funds Weigh In On Smith Micro Software

A number of large investors have recently modified their holdings of SMSI. Pacific Ridge Capital Partners LLC raised its position in Smith Micro Software by 122.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock worth $683,000 after purchasing an additional 286,540 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Smith Micro Software by 59.9% in the 4th quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock valued at $181,000 after buying an additional 51,681 shares during the period. Jane Street Group LLC increased its stake in shares of Smith Micro Software by 190.9% in the 4th quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock valued at $67,000 after buying an additional 33,784 shares during the period. XTX Topco Ltd raised its position in shares of Smith Micro Software by 80.6% during the fourth 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 during the last quarter. Finally, Renaissance Technologies LLC increased its position 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 purchasing an additional 16,700 shares during the period. 20.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.