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

Smith Micro Software, Inc. (NASDAQ:SMSI) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 756,400 shares, a growth of 38.6% from the August 31st total of 545,700 shares. Currently, 7.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,590,000 shares, the days-to-cover ratio is presently 0.2 days.

Smith Micro Software Stock Performance

NASDAQ:SMSI traded up $0.09 during mid-day trading on Friday, reaching $1.03. The stock had a trading volume of 1,063,363 shares, compared to its average volume of 1,330,260. The firm has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $1.96. The stock has a market capitalization of $9.89 million, a P/E ratio of -0.19 and a beta of 0.66. Smith Micro Software has a one year low of $0.52 and a one year high of $10.64.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.49) earnings per share 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 company had revenue of $5.14 million during the quarter, compared to the consensus estimate of $5.40 million. During the same quarter in the previous year, the firm posted ($0.24) EPS. Research analysts forecast that Smith Micro Software will post -1.84 earnings per share for the current year.

Institutional Trading of Smith Micro Software

An institutional investor recently raised its position in Smith Micro Software stock. Lindbrook Capital LLC lifted its holdings in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,250 shares of the software maker’s stock after acquiring an additional 5,000 shares during the quarter. Lindbrook Capital LLC owned approximately 0.76% of Smith Micro Software worth $25,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 20.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Smith Micro Software in a research report on Monday, September 23rd. They issued a “hold” rating for the company.

Smith Micro Software Company Profile

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.