Smith Micro Software, Inc. (NASDAQ:SMSI) Sees Large Decrease in Short Interest

by · The Markets Daily

Smith Micro Software, Inc. (NASDAQ:SMSI – Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 308,400 shares, a drop of 62.2% from the September 30th total of 816,100 shares. Based on an average trading volume of 3,710,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.6% of the company’s shares are sold short.

Smith Micro Software Stock Performance

SMSI stock traded down $0.02 during midday trading on Friday, hitting $0.81. 189,075 shares of the company’s stock were exchanged, compared to its average volume of 1,232,981. Smith Micro Software has a one year low of $0.52 and a one year high of $9.16. The company has a market cap of $7.82 million, a PE ratio of -0.15 and a beta of 0.70. The stock’s fifty day moving average price is $0.83 and its 200-day moving average price is $1.73.

Smith Micro Software (NASDAQ:SMSI – Get Free Report) last released its quarterly earnings results 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 return on equity of 23.88% and a negative net margin of 163.04%. The business had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.40 million. During the same period in the prior year, the business earned ($0.24) EPS. On average, analysts expect that Smith Micro Software will post -1.78 EPS for the current year.

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 note on Wednesday, October 16th.

Get Our Latest Research Report on Smith Micro Software

Smith Micro Software Company Profile

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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.

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