Smith Micro Software (NASDAQ:SMSI) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Smith Micro Software, Inc. (NASDAQ:SMSI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.64 and traded as high as $0.8049. Smith Micro Software shares last traded at $0.8048, with a volume of 157,013 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Smith Micro Software in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Smith Micro Software Stock Up 1.0%

The company has a market cap of $20.95 million, a P/E ratio of -0.54 and a beta of 0.63. The firm has a fifty day moving average price of $0.58 and a 200 day moving average price of $0.64.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $3.97 million for the quarter, compared to analyst estimates of $4.30 million. Smith Micro Software had a negative return on equity of 52.96% and a negative net margin of 168.92%. On average, sell-side analysts anticipate that Smith Micro Software, Inc. will post -1.83 earnings per share for the current year.

Hedge Funds Weigh In On Smith Micro Software

Several institutional investors have recently modified their holdings of the business. DRW Securities LLC bought a new position in shares of Smith Micro Software during the fourth quarter worth about $40,000. Renaissance Technologies LLC grew its holdings in Smith Micro Software by 41.7% during the fourth quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock worth $60,000 after purchasing an additional 32,604 shares during the period. Geode Capital Management LLC increased its position in Smith Micro Software by 16.7% during the fourth quarter. Geode Capital Management LLC now owns 212,813 shares of the software maker’s stock worth $115,000 after buying an additional 30,410 shares during the last quarter. Finally, Susquehanna International Group LLP raised its stake in Smith Micro Software by 109.2% in the third quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after buying an additional 22,335 shares during the period. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc, headquartered in Aliso Viejo, California, is a global provider of enterprise software solutions specializing in mobility management, device security and digital content distribution. Since its founding in 1982, Smith Micro has focused on delivering tools that enable wireless network operators, enterprises and software publishers to optimize performance, secure assets and manage licensing and distribution of digital media and applications.

Within its mobility and security segment, Smith Micro offers platforms for network offload, application acceleration, secure Wi-Fi connectivity and device management.