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

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 currently 1.6 days. Approximately 4.7% of the company’s shares are short sold.

Smith Micro Software Stock Performance

Shares of SMSI traded up $0.02 during trading hours on Monday, hitting $0.76. The stock had a trading volume of 25,188 shares, compared to its average volume of 345,440. Smith Micro Software has a 12-month low of $0.52 and a 12-month high of $3.21. The firm has a market cap of $9.05 million, a P/E ratio of -0.15 and a beta of 0.75. The company’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $1.04.

Hedge Funds Weigh In On Smith Micro Software

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Smith Micro Software during the 4th quarter worth about $32,000. XTX Topco Ltd purchased a new stake in Smith Micro Software during the third quarter worth approximately $26,000. Two Sigma Investments LP increased its position in shares of Smith Micro Software by 178.4% in the fourth 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. Virtu Financial LLC purchased a new position in shares of Smith Micro Software in the 3rd quarter valued at $39,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Smith Micro Software by 60.9% during 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 in the last quarter. 20.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Smith Micro Software from a “sell” rating to a “hold” rating in a research report 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.