Smith Micro Software, Inc. (NASDAQ:SMSI – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 308,400 shares, a decline of 62.2% from the September 30th total of 816,100 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 3,710,000 shares, the short-interest ratio is presently 0.1 days.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Smith Micro Software from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th.
Check Out Our Latest Stock Report on Smith Micro Software
Smith Micro Software Trading Up 1.3 %
Smith Micro Software (NASDAQ:SMSI – Get Free Report) last issued its earnings results on Thursday, August 1st. The software maker reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). The business had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.40 million. Smith Micro Software had a negative net margin of 163.04% and a negative return on equity of 23.88%. During the same period in the previous year, the firm earned ($0.24) EPS. As a group, equities research analysts forecast that Smith Micro Software will post -1.78 earnings per share for the current fiscal year.
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.
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