Smith Micro Software (NASDAQ:SMSI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Smith Micro Software (NASDAQ:SMSI) from a sell rating to a hold rating in a report published on Wednesday morning.

Separately, Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Smith Micro Software in a research note on Thursday, November 14th.

Smith Micro Software Stock Down 34.1 %

NASDAQ:SMSI opened at $0.71 on Wednesday. Smith Micro Software has a fifty-two week low of $0.52 and a fifty-two week high of $3.21. The stock has a market cap of $8.40 million, a PE ratio of -0.14 and a beta of 0.75. The firm’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.03.

Institutional Investors Weigh In On Smith Micro Software

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC boosted its position in shares of 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 worth $683,000 after buying an additional 286,540 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $181,000 after buying an additional 51,681 shares in the last quarter. Jane Street Group LLC lifted its holdings in Smith Micro Software by 190.9% in the 4th 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 in the last quarter. XTX Topco Ltd lifted its holdings in Smith Micro Software by 80.6% in the 4th quarter. XTX Topco Ltd now owns 46,714 shares of the software maker’s stock valued at $61,000 after purchasing an additional 20,847 shares in the last quarter. Finally, Renaissance Technologies LLC lifted 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 valued at $58,000 after purchasing an additional 16,700 shares in the last quarter. 20.80% of the stock is currently owned by hedge funds and other institutional investors.

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.