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 research note issued to investors on Wednesday morning.

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

Smith Micro Software Price Performance

Shares of Smith Micro Software stock opened at $0.71 on Wednesday. The firm’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.03. The stock has a market capitalization of $8.40 million, a price-to-earnings ratio of -0.14 and a beta of 0.75. Smith Micro Software has a 12 month low of $0.52 and a 12 month high of $3.21.

Hedge Funds Weigh In On Smith Micro Software

Several institutional investors have recently bought and sold shares of SMSI. XTX Topco Ltd acquired a new position in Smith Micro Software in the 3rd quarter valued at $26,000. Virtu Financial LLC acquired a new position in Smith Micro Software in the 3rd quarter valued at $39,000. Raymond James Financial Inc. acquired a new position in Smith Micro Software in the 4th quarter valued at $32,000. Pacific Ridge Capital Partners LLC increased 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 buying an additional 286,540 shares during the period. Finally, Geode Capital Management LLC increased its stake in 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 valued at $181,000 after buying an additional 51,681 shares during the period. 20.80% of the stock is owned by institutional investors and hedge funds.

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.