Short Interest in Smith Micro Software, Inc. (NASDAQ:SMSI) Increases By 36.6%

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 545,700 shares, an increase of 36.6% from the August 15th total of 399,600 shares. Based on an average daily trading volume, of 92,100 shares, the short-interest ratio is presently 5.9 days. Approximately 5.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Smith Micro Software in a report on Sunday. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Smith Micro Software stock. Lindbrook Capital LLC grew its position in Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,250 shares of the software maker’s stock after acquiring an additional 5,000 shares during the period. Lindbrook Capital LLC owned 0.76% of Smith Micro Software worth $25,000 at the end of the most recent reporting period. 20.80% of the stock is currently owned by institutional investors.

Smith Micro Software Stock Performance

Shares of NASDAQ:SMSI traded down $0.05 on Monday, hitting $0.52. 75,675 shares of the company were exchanged, compared to its average volume of 107,925. The company’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $2.11. The firm has a market capitalization of $5.74 million, a price-to-earnings ratio of -0.11 and a beta of 0.66. Smith Micro Software has a one year low of $0.52 and a one year high of $10.72.

Smith Micro Software (NASDAQ:SMSI) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.49) earnings per share (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 for the quarter, compared to the consensus estimate of $5.40 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Research analysts predict that Smith Micro Software will post -1.84 earnings per share for the current year.

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.