Smith Micro Software, Inc. (SMSI) Posts Earnings Results
Smith Micro Software, Inc. (NASDAQ:SMSI) issued its quarterly earnings results on Tuesday, August 8th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.05, Morningstar.com reports. The firm had revenue of $5.86 million for the quarter. Smith Micro Software had a negative net margin of 49.33% and a negative return on equity of 339.18%.
Shares of Smith Micro Software (NASDAQ:SMSI) traded up 1.80% on Friday, hitting $1.13. 20,885 shares of the stock were exchanged. The company’s market cap is $16.16 million. The company has a 50 day moving average of $1.20 and a 200 day moving average of $1.17. Smith Micro Software has a 52-week low of $0.80 and a 52-week high of $2.60.
An institutional investor recently raised its position in Smith Micro Software stock. Renaissance Technologies LLC boosted its position in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 256,125 shares of the software maker’s stock after buying an additional 26,000 shares during the period. Renaissance Technologies LLC owned about 2.08% of Smith Micro Software worth $402,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.73% of the company’s stock.
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Separately, ValuEngine upgraded shares of Smith Micro Software from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
Smith Micro Software Company Profile
Smith Micro Software, Inc is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks.
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