Smith Micro Software (NASDAQ:SMSI) Stock Rating Upgraded by StockNews.com

Smith Micro Software (NASDAQ:SMSI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Smith Micro Software in a report on Thursday, November 14th.

Smith Micro Software Price Performance

Shares of SMSI traded down $0.37 on Wednesday, reaching $0.71. The company’s stock had a trading volume of 2,075,672 shares, compared to its average volume of 356,374. Smith Micro Software has a 12-month low of $0.52 and a 12-month high of $3.21. The stock has a market capitalization of $8.40 million, a P/E ratio of -0.14 and a beta of 0.75. The stock’s 50 day simple moving average is $1.31 and its two-hundred day simple moving average is $1.03.

Institutional Trading of Smith Micro Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Smith Micro Software during the 3rd quarter valued at approximately $26,000. Raymond James Financial Inc. purchased a new stake in shares of Smith Micro Software during the 4th quarter worth approximately $32,000. Virtu Financial LLC purchased a new position in shares of Smith Micro Software in the third quarter valued at $39,000. Two Sigma Investments LP increased its holdings in shares of Smith Micro Software by 178.4% in the 4th quarter. Two Sigma Investments LP now owns 31,710 shares of the software maker’s stock worth $42,000 after buying an additional 20,321 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Smith Micro Software by 60.9% in the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock valued at $58,000 after acquiring an additional 16,700 shares during the last quarter. Institutional investors own 20.80% of the company’s stock.

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.