Smith Micro Software Sees Unusually High Options Volume (NASDAQ:SMSI)

Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of unusually large options trading on Monday. Stock traders bought 907 put options on the company. This represents an increase of 1,437% compared to the typical volume of 59 put options.

Several analysts have recently weighed in on the company. TheStreet upgraded Smith Micro Software from a “d” rating to a “c-” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Smith Micro Software from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Saturday, July 27th. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of Smith Micro Software in a research note on Tuesday, July 23rd. ValuEngine cut shares of Smith Micro Software from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, B. Riley started coverage on shares of Smith Micro Software in a research report on Friday, July 19th. They set a “buy” rating and a $5.00 price target on the stock. Five research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $4.44.

In related news, Director Thomas G. Campbell sold 20,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $6.19, for a total value of $123,800.00. Following the completion of the sale, the director now directly owns 37,000 shares in the company, valued at approximately $229,030. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy C. Huffmyer sold 42,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $5.48, for a total value of $230,160.00. Following the completion of the sale, the chief financial officer now owns 239,343 shares of the company’s stock, valued at $1,311,599.64. The disclosure for this sale can be found here. Corporate insiders own 24.79% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Smith Micro Software by 26.2% in the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock worth $2,839,000 after buying an additional 194,019 shares in the last quarter. BlackRock Inc. increased its holdings in Smith Micro Software by 14.4% in the 2nd quarter. BlackRock Inc. now owns 417,521 shares of the software maker’s stock worth $1,268,000 after buying an additional 52,439 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Smith Micro Software by 3.4% in the 2nd quarter. Acadian Asset Management LLC now owns 109,336 shares of the software maker’s stock worth $332,000 after buying an additional 3,623 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Smith Micro Software in the 1st quarter worth about $106,000. Finally, Northern Trust Corp increased its holdings in Smith Micro Software by 54.4% in the 4th quarter. Northern Trust Corp now owns 32,448 shares of the software maker’s stock worth $58,000 after buying an additional 11,432 shares in the last quarter. Institutional investors own 6.34% of the company’s stock.

NASDAQ SMSI traded up $0.21 during trading hours on Wednesday, reaching $6.62. The company’s stock had a trading volume of 612,022 shares, compared to its average volume of 450,412. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $3.19. Smith Micro Software has a 52 week low of $1.62 and a 52 week high of $6.84. The stock has a market cap of $233.15 million, a PE ratio of -47.29 and a beta of 0.41.

Smith Micro Software (NASDAQ:SMSI) last issued its earnings results on Thursday, July 25th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.09. Smith Micro Software had a net margin of 15.99% and a return on equity of 26.71%. The firm had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $8.65 million. As a group, equities analysts predict that Smith Micro Software will post 0.23 EPS for the current year.

About Smith Micro Software

Smith Micro Software, Inc develops and sells software to simplify and enhance the mobile experience to wireless service providers, device manufacturers, and enterprise businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Wireless and Graphics.

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