Smith Micro Software (NASDAQ:SMSI) Stock Price Down 7.9%

Smith Micro Software, Inc. (NASDAQ:SMSI)’s share price traded down 7.9% during mid-day trading on Friday . The company traded as low as $6.06 and last traded at $6.20, 1,301,557 shares changed hands during mid-day trading. An increase of 91% from the average session volume of 680,592 shares. The stock had previously closed at $6.73.

SMSI has been the subject of several research analyst reports. B. Riley set a $8.50 target price on Smith Micro Software and gave the stock a “buy” rating in a research note on Monday, October 21st. ValuEngine raised shares of Smith Micro Software from a “strong sell” rating to a “sell” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Smith Micro Software currently has an average rating of “Hold” and a consensus target price of $5.75.

The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.96 and a current ratio of 6.96. The firm has a market cap of $259.13 million, a P/E ratio of 21.38 and a beta of 0.58. The company’s 50 day moving average is $4.90 and its 200 day moving average is $5.27.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Smith Micro Software by 203.4% during the fourth quarter. Bank of New York Mellon Corp now owns 35,122 shares of the software maker’s stock worth $140,000 after buying an additional 23,545 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Smith Micro Software during the 4th quarter valued at $160,000. Laurion Capital Management LP acquired a new stake in shares of Smith Micro Software during the 4th quarter valued at $585,000. Renaissance Technologies LLC grew its position in Smith Micro Software by 53.8% during the 4th quarter. Renaissance Technologies LLC now owns 233,200 shares of the software maker’s stock worth $928,000 after acquiring an additional 81,600 shares during the last quarter. Finally, Credit Suisse AG bought a new stake in Smith Micro Software during the 4th quarter worth $1,101,000. Institutional investors own 16.23% of the company’s stock.

Smith Micro Software Company Profile (NASDAQ:SMSI)

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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