Smith Micro Software (NASDAQ:SMSI) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Smith Micro Software (NASDAQ:SMSI) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Smith Micro Software, Inc. develops and sells communications software for personal and business use. The company’s objective is to enhance human interaction by giving users the ability to communicate through multimedia technologies over analog and digital platforms. Smith Micro’s products enable personal communication through telephony, fax, multimedia email, data, paging, video security and video conferencing. “

Several other equities analysts have also issued reports on the company. TheStreet lowered Smith Micro Software from a b- rating to a c+ rating in a research note on Monday, May 11th. ValuEngine upgraded Smith Micro Software from a sell rating to a hold rating in a research report on Tuesday, July 28th. Finally, B. Riley dropped their target price on shares of Smith Micro Software from $9.00 to $7.50 and set a buy rating for the company in a research report on Monday, April 27th.

Shares of Smith Micro Software stock opened at $4.13 on Wednesday. The firm has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.68. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 0.10. Smith Micro Software has a 1-year low of $3.28 and a 1-year high of $7.15. The stock has a market capitalization of $171.07 million, a price-to-earnings ratio of 12.15 and a beta of 0.71.

Smith Micro Software (NASDAQ:SMSI) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $13.32 million for the quarter, compared to analyst estimates of $12.43 million. Smith Micro Software had a net margin of 26.37% and a return on equity of 30.81%. As a group, research analysts predict that Smith Micro Software will post 0.19 earnings per share for the current year.

In related news, CFO Timothy C. Huffmyer sold 16,000 shares of Smith Micro Software stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.92, for a total value of $78,720.00. Following the completion of the transaction, the chief financial officer now directly owns 304,733 shares of the company’s stock, valued at $1,499,286.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas G. Campbell sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $4.85, for a total transaction of $72,750.00. Following the transaction, the director now owns 47,000 shares in the company, valued at approximately $227,950. The disclosure for this sale can be found here. 24.79% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Smith Micro Software by 220.3% in the first quarter. Citigroup Inc. now owns 10,065 shares of the software maker’s stock valued at $42,000 after purchasing an additional 6,923 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Smith Micro Software in the 2nd quarter valued at $45,000. Blair William & Co. IL bought a new stake in shares of Smith Micro Software during the first quarter worth $57,000. Yorktown Management & Research Co Inc bought a new stake in shares of Smith Micro Software during the first quarter worth $63,000. Finally, Paloma Partners Management Co acquired a new position in shares of Smith Micro Software during the first quarter valued at $69,000. Institutional investors own 21.65% of the company’s stock.

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.

Recommended Story: What is the NASDAQ Stock Market?

Get a free copy of the Zacks research report on Smith Micro Software (SMSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Smith Micro Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smith Micro Software and related companies with MarketBeat.com's FREE daily email newsletter.