Smith Micro Software (NASDAQ:SMSI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Smith Micro Software, Inc. (NASDAQ:SMSI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.03 and traded as high as $1.19. Smith Micro Software shares last traded at $1.14, with a volume of 101,774 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Smith Micro Software from a “sell” rating to a “hold” rating in a report on Wednesday. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Smith Micro Software in a research note on Thursday, November 14th.

Smith Micro Software Stock Down 34.1 %

The firm has a 50 day moving average of $1.31 and a 200 day moving average of $1.03. The firm has a market cap of $8.40 million, a PE ratio of -0.14 and a beta of 0.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMSI. Pacific Ridge Capital Partners LLC raised its stake 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 acquiring an additional 286,540 shares during the period. Geode Capital Management LLC increased its stake in shares of Smith Micro Software by 59.9% in the fourth quarter. Geode Capital Management LLC now owns 137,979 shares of the software maker’s stock worth $181,000 after purchasing an additional 51,681 shares in the last quarter. Jane Street Group LLC raised its position in shares of Smith Micro Software by 190.9% in the fourth quarter. Jane Street Group LLC now owns 51,480 shares of the software maker’s stock valued at $67,000 after purchasing an additional 33,784 shares during the period. XTX Topco Ltd lifted its stake in shares of Smith Micro Software by 80.6% during the 4th quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after buying an additional 20,847 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Smith Micro Software by 60.9% in the 4th quarter. Renaissance Technologies LLC now owns 44,141 shares of the software maker’s stock worth $58,000 after buying an additional 16,700 shares during the period. Institutional investors own 20.80% of the company’s stock.

Smith Micro Software Company Profile

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.