Smith Micro Software (NASDAQ:SMSI) Stock Passes Above 200 Day Moving Average – Here’s Why

Smith Micro Software, Inc. (NASDAQ:SMSI) passed 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Smith Micro Software in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Smith Micro Software Price Performance

The stock has a market cap of $20.73 million, a P/E ratio of -0.53 and a beta of 0.63. The business’s 50 day simple moving average is $0.58 and its 200 day simple moving average is $0.64.

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

Institutional Trading of Smith Micro Software

A number of large investors have recently bought and sold shares of the stock. Susquehanna International Group LLP grew its position 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 acquiring an additional 22,335 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $115,000 after acquiring an additional 30,410 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Smith Micro Software by 41.7% in the 4th quarter. Renaissance Technologies LLC now owns 110,745 shares of the software maker’s stock valued at $60,000 after purchasing an additional 32,604 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Smith Micro Software in the 4th quarter valued at $40,000. 20.80% of the stock is currently owned by institutional investors.

About Smith Micro Software

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.