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

Smith Micro Software, Inc. (NASDAQ:SMSI)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.31 and traded as high as $3.70. Smith Micro Software shares last traded at $3.69, with a volume of 27,952 shares.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Benchmark lifted their target price on Smith Micro Software from $10.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Smith Micro Software currently has an average rating of “Hold” and a consensus target price of $12.50.

Smith Micro Software Stock Performance

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $3.89 and its 200 day moving average is $3.31. The stock has a market capitalization of $18.86 million, a PE ratio of -0.53 and a beta of 0.65.

Hedge Funds Weigh In On Smith Micro Software

A number of large investors have recently made changes to their positions in SMSI. Susquehanna International Group LLP boosted its stake in shares of Smith Micro Software by 109.2% during the 3rd quarter. Susquehanna International Group LLP now owns 42,780 shares of the software maker’s stock worth $31,000 after purchasing an additional 22,335 shares during the period. Geode Capital Management LLC grew its position in Smith Micro Software by 16.7% in the 4th 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 last quarter. Renaissance Technologies LLC grew its position in 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 acquiring an additional 32,604 shares during the last quarter. Finally, DRW Securities LLC bought a new position in Smith Micro Software in the 4th quarter valued at $40,000. 20.80% of the stock is owned by hedge funds and other 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.