Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 24.4% in February

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 630,800 shares, an increase of 24.4% from the February 13th total of 506,900 shares. Based on an average trading volume of 392,600 shares, the short-interest ratio is presently 1.6 days. Approximately 4.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Smith Micro Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMSI. XTX Topco Ltd purchased a new stake in Smith Micro Software during the 3rd quarter worth $26,000. Raymond James Financial Inc. acquired a new position in Smith Micro Software during the 4th quarter worth $32,000. Virtu Financial LLC acquired a new position in Smith Micro Software during the 3rd quarter worth $39,000. Two Sigma Investments LP grew its holdings 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 acquiring an additional 20,321 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Smith Micro Software by 60.9% during the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock worth $58,000 after acquiring an additional 16,700 shares in the last quarter. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Smith Micro Software Price Performance

Smith Micro Software stock traded up $0.01 during midday trading on Tuesday, hitting $0.83. 78,932 shares of the stock were exchanged, compared to its average volume of 1,136,968. Smith Micro Software has a 1 year low of $0.52 and a 1 year high of $3.21. The firm has a market cap of $9.83 million, a P/E ratio of -0.16 and a beta of 0.75. The company has a 50 day moving average price of $1.27 and a two-hundred day moving average price of $1.04.

Wall Street Analysts Forecast Growth

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

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.