Smith Micro Software (NASDAQ:SMSI) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Smith Micro Software, Inc. (NASDAQ:SMSI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.01 and traded as high as $1.37. Smith Micro Software shares last traded at $1.37, with a volume of 149,676 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SMSI. Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Smith Micro Software in a research report on Thursday, November 14th. StockNews.com lowered Smith Micro Software from a “hold” rating to a “sell” rating in a report on Saturday, December 21st.

Smith Micro Software Stock Down 6.6 %

The stock has a fifty day moving average price of $1.35 and a 200-day moving average price of $1.01. The firm has a market cap of $15.18 million, a price-to-earnings ratio of -0.25 and a beta of 0.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC boosted its holdings in Smith Micro Software by 122.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 521,018 shares of the software maker’s stock valued at $683,000 after purchasing an additional 286,540 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Smith Micro Software by 59.9% in the 4th quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock valued at $181,000 after buying an additional 51,681 shares during the period. Virtu Financial LLC purchased a new stake in shares of Smith Micro Software in the third quarter valued at approximately $39,000. Jane Street Group LLC grew its holdings in Smith Micro Software by 190.9% during the fourth quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock worth $67,000 after acquiring an additional 33,784 shares during the period. Finally, XTX Topco Ltd purchased a new position in Smith Micro Software in the third quarter worth $26,000. 20.80% of the stock is currently owned by institutional investors and hedge funds.

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, 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.