Smith Micro Software, Inc. (NASDAQ:SMSI) Short Interest Up 36.6% in August

Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 545,700 shares, an increase of 36.6% from the August 15th total of 399,600 shares. Based on an average trading volume of 92,100 shares, the days-to-cover ratio is currently 5.9 days. Approximately 5.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Smith Micro Software stock. Lindbrook Capital LLC raised its holdings in Smith Micro Software, Inc. (NASDAQ:SMSI) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,250 shares of the software maker’s stock after acquiring an additional 5,000 shares during the period. Lindbrook Capital LLC owned about 0.76% of Smith Micro Software worth $25,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software Stock Down 9.1 %

SMSI stock traded down $0.05 during midday trading on Monday, reaching $0.52. The company’s stock had a trading volume of 75,675 shares, compared to its average volume of 107,925. The business’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $2.11. The stock has a market cap of $5.74 million, a PE ratio of -0.11 and a beta of 0.66. Smith Micro Software has a 52 week low of $0.52 and a 52 week high of $10.72.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). Smith Micro Software had a negative return on equity of 23.88% and a negative net margin of 163.04%. The company had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.40 million. During the same period last year, the firm earned ($0.24) earnings per share. As a group, equities analysts forecast that Smith Micro Software will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Smith Micro Software in a research note on Sunday. They set a “hold” rating on the stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc engages in the development and sale of software to enhance the mobile experience to wireless and cable service providers in the Americas, Europe, the Middle East, and Africa. The company offers SafePath Family, SafePath IoT, SafePath Home, and SafePath Premium product suite, which provides tools to protect digital lifestyles and manage connected devices inside and outside the home; and CommSuite, a messaging platform that helps mobile service provides deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language voice-to-text (VTT) transcription messaging.