Smith Micro Software (NASDAQ:SMSI) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.
Separately, Zacks Investment Research raised Smith Micro Software from a “sell” rating to a “hold” rating in a report on Friday, November 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smith Micro Software has an average rating of “Buy” and an average target price of $9.65.
NASDAQ SMSI opened at $4.00 on Thursday. The business’s fifty day moving average price is $4.86 and its 200-day moving average price is $5.10. The stock has a market capitalization of $218.26 million, a price-to-earnings ratio of -8.00 and a beta of 0.69. Smith Micro Software has a 1-year low of $3.75 and a 1-year high of $8.05.
Smith Micro Software (NASDAQ:SMSI) last announced its earnings results on Wednesday, November 10th. The software maker reported ($0.02) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.02). Smith Micro Software had a negative return on equity of 2.92% and a negative net margin of 47.11%. The company had revenue of $16.44 million for the quarter, compared to analysts’ expectations of $17.05 million. As a group, analysts expect that Smith Micro Software will post -0.12 EPS for the current fiscal year.
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In other news, CEO William W. Smith, Jr. sold 110,000 shares of the firm’s stock in a transaction dated Tuesday, December 7th. The stock was sold at an average price of $5.33, for a total transaction of $586,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.42% of the company’s stock.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Smith Micro Software by 1.7% during the third quarter. BlackRock Inc. now owns 2,733,372 shares of the software maker’s stock valued at $13,231,000 after buying an additional 45,594 shares during the period. Vanguard Group Inc. raised its stake in shares of Smith Micro Software by 21.5% during the second quarter. Vanguard Group Inc. now owns 2,500,575 shares of the software maker’s stock valued at $13,053,000 after acquiring an additional 442,279 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Smith Micro Software by 37.9% during the second quarter. Pacific Ridge Capital Partners LLC now owns 1,762,647 shares of the software maker’s stock valued at $9,201,000 after acquiring an additional 484,870 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Smith Micro Software by 1.9% during the third quarter. Geode Capital Management LLC now owns 836,200 shares of the software maker’s stock valued at $4,047,000 after acquiring an additional 15,615 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Smith Micro Software by 230.8% during the second quarter. Deutsche Bank AG now owns 710,025 shares of the software maker’s stock valued at $3,706,000 after acquiring an additional 495,367 shares in the last quarter. Institutional investors and hedge funds own 32.90% of the company’s stock.
Smith Micro Software Company Profile
Smith Micro Software, Inc engages in the provision of software solutions. It operates through Wireless segment. The Wireless segment refers to wireless internet solutions to access information and entertainment anytime and anywhere. Its products include SafePath Family, SafePath IoT, SafePath Home, CommSuite VVM, CommSuite VTT, and ViewSpot.
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