ValuEngine Downgrades Smith Micro Software, Inc. (NASDAQ:SMSI) to Strong Sell

Smith Micro Software, Inc. (NASDAQ:SMSI) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

Shares of Smith Micro Software (NASDAQ SMSI) traded down 2.13% during trading on Thursday, hitting $1.38. The stock had a trading volume of 661 shares. The stock’s 50-day moving average price is $1.17 and its 200 day moving average price is $1.30. The stock’s market cap is $16.74 million. Smith Micro Software has a one year low of $0.80 and a one year high of $3.20.

Smith Micro Software (NASDAQ:SMSI) last released its quarterly earnings results on Wednesday, May 3rd. The software maker reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.10) by $0.05. The company had revenue of $5.58 million for the quarter. Smith Micro Software had a negative return on equity of 222.45% and a negative net margin of 49.02%. On average, equities analysts forecast that Smith Micro Software will post ($0.31) EPS for the current year.

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An institutional investor recently raised its position in Smith Micro Software stock. Renaissance Technologies LLC raised its stake in Smith Micro Software, Inc. (NASDAQ:SMSI) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 256,125 shares of the software maker’s stock after buying an additional 26,000 shares during the period. Renaissance Technologies LLC owned 2.08% of Smith Micro Software worth $402,000 as of its most recent SEC filing. Institutional investors and hedge funds own 14.67% of the company’s stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks.

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

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