StockNews.com Initiates Coverage on Smith Micro Software (NASDAQ:SMSI)

Analysts at StockNews.com started coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a research note issued on Sunday. The brokerage set a “hold” rating on the software maker’s stock.

Smith Micro Software Stock Performance

NASDAQ:SMSI opened at $0.52 on Friday. The firm has a market cap of $5.77 million, a price-to-earnings ratio of -0.10 and a beta of 0.66. Smith Micro Software has a 52 week low of $0.52 and a 52 week high of $10.72. The firm has a 50-day moving average price of $1.39 and a two-hundred day moving average price of $2.09.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.14). Smith Micro Software had a negative net margin of 163.04% and a negative return on equity of 23.88%. The firm had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.40 million. During the same quarter last year, the business posted ($0.24) EPS. As a group, sell-side analysts forecast that Smith Micro Software will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Smith Micro Software stock. Pacific Ridge Capital Partners LLC grew its stake in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 21.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,128,190 shares of the software maker’s stock after acquiring an additional 374,963 shares during the period. Pacific Ridge Capital Partners LLC owned about 2.96% of Smith Micro Software worth $1,758,000 at the end of the most recent reporting period. 20.80% of the stock is currently owned by hedge funds and other 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.