Smith Micro Software (NASDAQ:SMSI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.64 and traded as high as $0.7740. Smith Micro Software shares last traded at $0.7334, with a volume of 103,794 shares traded.

Analyst Ratings Changes

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

Smith Micro Software Stock Down 7.1%

The firm has a market cap of $18.89 million, a price-to-earnings ratio of -0.49 and a beta of 0.63. The stock has a fifty day moving average price of $0.61 and a 200-day moving average price of $0.64.

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

Institutional Trading of Smith Micro Software

Several hedge funds have recently made changes to their positions in SMSI. Susquehanna International Group LLP boosted its holdings in shares of 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 in the last quarter. DRW Securities LLC acquired a new position in shares of Smith Micro Software during the fourth quarter worth about $40,000. Renaissance Technologies LLC raised 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 in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 30,410 shares in the last quarter. Institutional investors and hedge funds 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.