Smith Micro Software Stock to Reverse Split on Friday, June 5th (NASDAQ:SMSI)

Smith Micro Software, Inc. (NASDAQ:SMSI)’s stock is set to reverse split on Friday, June 5th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 4th.

Smith Micro Software Stock Performance

Shares of Smith Micro Software stock opened at $0.82 on Thursday. The stock’s fifty day moving average is $0.78 and its two-hundred day moving average is $0.65. The company has a market capitalization of $20.90 million, a PE ratio of -0.59 and a beta of 0.66. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.10. Smith Micro Software has a 52 week low of $0.41 and a 52 week high of $1.30.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Wednesday, March 4th. The software maker reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $3.97 million during the quarter, compared to the consensus estimate of $4.30 million. Smith Micro Software had a negative net margin of 165.35% and a negative return on equity of 55.78%. As a group, analysts expect that Smith Micro Software will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMSI has been the topic of several research analyst reports. Benchmark upped their price objective on Smith Micro Software from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Friday, May 1st. Weiss Ratings downgraded Smith Micro Software from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Hedge Funds Weigh In On Smith Micro Software

A number of hedge funds and other institutional investors have recently made changes to their positions in SMSI. Susquehanna International Group LLP boosted its position in Smith Micro Software by 109.2% during the third quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock valued at $31,000 after purchasing an additional 22,335 shares in the last quarter. Geode Capital Management LLC boosted 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 valued at $115,000 after purchasing an additional 30,410 shares in the last quarter. Renaissance Technologies LLC boosted its position 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 valued at $60,000 after purchasing an additional 32,604 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in Smith Micro Software during the fourth quarter valued at about $40,000. Institutional investors own 20.80% of the company’s stock.

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.