Smith Micro Software, Inc. (SMSI) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Smith Micro Software, Inc. (NASDAQ:SMSI) announced its earnings results on Tuesday. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05, Morningstar.com reports. Smith Micro Software had a negative return on equity of 222.45% and a negative net margin of 49.02%. The company had revenue of $5.86 million for the quarter.
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Separately, ValuEngine lowered Smith Micro Software from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th.
A hedge fund recently raised its stake in Smith Micro Software stock. Renaissance Technologies LLC raised its position in shares of Smith Micro Software, Inc. (NASDAQ:SMSI) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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. 14.62% of the stock is currently owned by hedge funds and other institutional investors.
About Smith Micro Software
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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