Smith Micro Software (NASDAQ:SMSI) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Smith Micro Software (NASDAQ:SMSI) from a sell rating to a hold rating in a research report report published on Wednesday.

Separately, Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a report on Thursday, November 14th.

Smith Micro Software Price Performance

Shares of Smith Micro Software stock opened at $0.75 on Wednesday. Smith Micro Software has a 1 year low of $0.52 and a 1 year high of $3.21. The firm’s 50-day moving average is $1.29 and its two-hundred day moving average is $1.03. The stock has a market cap of $8.84 million, a price-to-earnings ratio of -0.14 and a beta of 0.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Smith Micro Software in the 3rd quarter valued at about $26,000. Virtu Financial LLC bought a new stake in shares of Smith Micro Software in the 3rd quarter valued at about $39,000. Raymond James Financial Inc. bought a new stake in shares of Smith Micro Software in the 4th quarter valued at about $32,000. Pacific Ridge Capital Partners LLC boosted its holdings in shares of 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 valued at $683,000 after buying an additional 286,540 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 in the last quarter. 20.80% of the stock is currently owned by institutional investors.

About Smith Micro Software

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.