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

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large decrease in short interest in 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. Based on an average daily trading volume, of 401,100 shares, the short-interest ratio is currently 0.9 days. Approximately 2.7% of the company’s stock are sold short.

Smith Micro Software Stock Down 8.2 %

Shares of NASDAQ SMSI opened at $0.73 on Friday. The business has a 50-day moving average price of $1.18 and a 200 day moving average price of $1.05. The stock has a market cap of $13.01 million, a PE ratio of -0.14 and a beta of 0.75. Smith Micro Software has a 52-week low of $0.52 and a 52-week high of $3.21.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Smith Micro Software

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in shares of Smith Micro Software by 60.9% in the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock valued at $58,000 after acquiring an additional 16,700 shares during the period. Two Sigma Investments LP grew its position 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 purchasing an additional 20,321 shares during the last quarter. XTX Topco Ltd increased its stake in Smith Micro Software by 80.6% in the fourth quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after purchasing an additional 20,847 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Smith Micro Software in the fourth quarter valued at about $32,000. Finally, Jane Street Group LLC boosted its stake in shares of Smith Micro Software by 190.9% during the fourth quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock worth $67,000 after buying an additional 33,784 shares during the period. 20.80% of the stock is owned by institutional investors and hedge funds.

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.