Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Update

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a significant increase in short interest during 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. Approximately 4.7% of the shares of the company are short sold. Based on an average daily volume of 392,600 shares, the days-to-cover ratio is presently 1.6 days.

Smith Micro Software Stock Down 0.2 %

Shares of NASDAQ:SMSI opened at $0.82 on Wednesday. Smith Micro Software has a 52-week low of $0.52 and a 52-week high of $3.21. The stock has a market cap of $9.70 million, a price-to-earnings ratio of -0.16 and a beta of 0.75. The business has a 50-day moving average price of $1.25 and a 200-day moving average price of $1.04.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMSI. XTX Topco Ltd purchased a new position in Smith Micro Software during the third quarter valued at approximately $26,000. Virtu Financial LLC purchased a new position in Smith Micro Software during the third quarter valued at approximately $39,000. Raymond James Financial Inc. purchased a new position in Smith Micro Software during the fourth quarter valued at approximately $32,000. Pacific Ridge Capital Partners LLC raised its position in Smith Micro Software by 122.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock valued at $683,000 after acquiring an additional 286,540 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Smith Micro Software by 59.9% during the fourth quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock valued at $181,000 after acquiring an additional 51,681 shares in the last quarter. 20.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.