ValuEngine Downgrades Smith Micro Software (NASDAQ:SMSI) to Sell

Smith Micro Software (NASDAQ:SMSI) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, December 3rd, ValuEngine reports.

SMSI has been the topic of several other reports. B. Riley set a $8.50 price objective on Smith Micro Software and gave the company a “buy” rating in a research report on Monday, October 21st. Zacks Investment Research lowered shares of Smith Micro Software from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Smith Micro Software has a consensus rating of “Hold” and a consensus price target of $5.75.

Shares of SMSI stock traded up $0.07 during mid-day trading on Tuesday, hitting $3.87. The company’s stock had a trading volume of 346,859 shares, compared to its average volume of 475,586. Smith Micro Software has a 52-week low of $1.69 and a 52-week high of $6.90. The business has a 50-day moving average price of $4.55 and a 200 day moving average price of $4.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.96 and a current ratio of 6.96. The stock has a market cap of $149.01 million, a price-to-earnings ratio of -27.64 and a beta of 0.32.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $11.78 million during the quarter, compared to analyst estimates of $11.18 million. Smith Micro Software had a net margin of 25.64% and a return on equity of 32.55%. Equities research analysts predict that Smith Micro Software will post 0.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in Smith Micro Software during the third quarter valued at approximately $1,187,000. Vanguard Group Inc. raised its holdings in Smith Micro Software by 26.2% during the 2nd quarter. Vanguard Group Inc. now owns 933,710 shares of the software maker’s stock valued at $2,839,000 after buying an additional 194,019 shares during the period. BlackRock Inc. lifted its position in Smith Micro Software by 14.4% in the second 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 during the last quarter. Barclays PLC boosted its stake in Smith Micro Software by 135,303.7% during the third quarter. Barclays PLC now owns 36,559 shares of the software maker’s stock worth $198,000 after buying an additional 36,532 shares during the period. Finally, Acadian Asset Management LLC increased its position in Smith Micro Software by 3.4% during the second quarter. Acadian Asset Management LLC now owns 109,336 shares of the software maker’s stock valued at $332,000 after acquiring an additional 3,623 shares during the last quarter. 16.19% of the stock is currently owned by institutional investors.

Smith Micro Software Company Profile

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.

Further Reading: Hedge Funds Explained

To view ValuEngine’s full report, visit ValuEngine’s official website.

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