StockNews.com Initiates Coverage on Smith Micro Software (NASDAQ:SMSI)

Equities research analysts at StockNews.com started coverage on shares of Smith Micro Software (NASDAQ:SMSI) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the software maker’s stock.

Separately, Benchmark cut their target price on shares of Smith Micro Software from $3.50 to $2.50 and set a “buy” rating for the company in a research report on Friday, March 22nd.

Smith Micro Software Stock Performance

NASDAQ SMSI opened at $0.34 on Friday. Smith Micro Software has a 52-week low of $0.30 and a 52-week high of $1.87. The company has a 50-day simple moving average of $0.59 and a 200 day simple moving average of $0.83. The company has a market capitalization of $26.47 million, a PE ratio of -0.93 and a beta of 0.67.

Smith Micro Software (NASDAQ:SMSI) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Smith Micro Software had a negative return on equity of 13.46% and a negative net margin of 59.70%. The company had revenue of $8.59 million for the quarter, compared to analysts’ expectations of $8.86 million. During the same quarter last year, the business posted ($0.10) EPS. As a group, analysts forecast that Smith Micro Software will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Smith Micro Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sonora Investment Management Group LLC bought a new position in Smith Micro Software during the third quarter worth about $59,000. CM Management LLC boosted its position in shares of Smith Micro Software by 33.3% in the third quarter. CM Management LLC now owns 300,000 shares of the software maker’s stock valued at $363,000 after acquiring an additional 75,000 shares during the period. GSA Capital Partners LLP bought a new position in shares of Smith Micro Software in the fourth quarter valued at approximately $177,000. CIBC Private Wealth Group LLC bought a new position in shares of Smith Micro Software in the fourth quarter valued at approximately $83,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Smith Micro Software by 100.0% in the first quarter. Sunbelt Securities Inc. now owns 50,000 shares of the software maker’s stock valued at $54,000 after acquiring an additional 25,000 shares during the period. Institutional investors own 20.80% of the company’s stock.

About Smith Micro Software

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, Africa, and internationally. The company offers SafePath Family, SafePath IoT, and SafePath Home 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 providers deliver a next-generation voicemail experience to mobile subscribers, as well as enables multi-language Voice-to-Text transcription messaging.