Smith Micro Software, Inc. (NASDAQ:SMSI – Get Free Report)’s share 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.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Weiss Ratings raised Smith Micro Software from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Benchmark increased their target price on shares of Smith Micro Software from $10.00 to $12.50 and gave the company a “buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Smith Micro Software has an average rating of “Hold” and an average price target of $12.50.
Read Our Latest Report on SMSI
Smith Micro Software Stock Up 26.7%
Institutional Trading of Smith Micro Software
A number of institutional investors and hedge funds have recently modified their holdings of the business. DRW Securities LLC purchased a new stake in shares of Smith Micro Software during the fourth quarter valued at approximately $40,000. Renaissance Technologies LLC increased 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 buying an additional 32,604 shares during the last quarter. Geode Capital Management LLC increased 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 buying an additional 30,410 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings 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 worth $31,000 after buying an additional 22,335 shares during the last quarter. 20.80% of the stock is owned by hedge funds and other institutional investors.
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.
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