Smith Micro Software Target of Unusually Large Options Trading (NASDAQ:SMSI)

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Smith Micro Software, Inc. (NASDAQ:SMSI) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 3,964 call options on the company. This is an increase of approximately 1,455% compared to the typical volume of 255 call options.

Shares of Smith Micro Software stock opened at $6.00 on Wednesday. The business has a fifty day simple moving average of $5.45 and a two-hundred day simple moving average of $4.41. Smith Micro Software has a 1 year low of $3.28 and a 1 year high of $7.15. The company has a market capitalization of $247.77 million, a price-to-earnings ratio of 23.08 and a beta of 0.53.

Smith Micro Software (NASDAQ:SMSI) last announced its quarterly earnings results on Wednesday, November 4th. The software maker reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Smith Micro Software had a return on equity of 24.30% and a net margin of 21.19%. The business had revenue of $12.63 million during the quarter, compared to the consensus estimate of $12.23 million. As a group, sell-side analysts expect that Smith Micro Software will post 0.17 EPS for the current year.

SMSI has been the subject of several recent analyst reports. Zacks Investment Research downgraded Smith Micro Software from a “hold” rating to a “sell” rating in a report on Tuesday, January 5th. TheStreet raised Smith Micro Software from a “c+” rating to a “b-” rating in a report on Wednesday, December 2nd. Finally, Lake Street Capital began coverage on Smith Micro Software in a report on Monday, October 19th. They set a “buy” rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Smith Micro Software currently has an average rating of “Hold” and a consensus target price of $6.75.

In other Smith Micro Software news, CFO Timothy C. Huffmyer sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the completion of the transaction, the chief financial officer now owns 268,598 shares of the company’s stock, valued at approximately $1,394,023.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Samuel Gulko sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $5.14, for a total value of $51,400.00. Following the completion of the sale, the director now directly owns 94,250 shares of the company’s stock, valued at approximately $484,445. The disclosure for this sale can be found here. Corporate insiders own 24.79% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SMSI. BNP Paribas Arbitrage SA increased its position in Smith Micro Software by 543.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,057 shares of the software maker’s stock worth $30,000 after buying an additional 6,804 shares during the period. Sei Investments Co. bought a new position in shares of Smith Micro Software in the second quarter worth $87,000. American International Group Inc. bought a new position in shares of Smith Micro Software in the second quarter worth $91,000. JPMorgan Chase & Co. increased its position in shares of Smith Micro Software by 236.0% in the third quarter. JPMorgan Chase & Co. now owns 37,790 shares of the software maker’s stock worth $141,000 after purchasing an additional 26,544 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in shares of Smith Micro Software in the third quarter worth $149,000. Hedge funds and other institutional investors own 27.14% of the company’s stock.

Smith Micro Software Company Profile

Smith Micro Software, Inc develops and sells software to enhance the mobile experience to wireless and cable service providers worldwide. The company provides SafePath Family, a platform that provides family real time location, protection, and parental control services; and SafePath Internet of Things, a platform that enables mobile service providers to deliver a connected digital life experience through child and elderly wearable locators, pet trackers, car trackers, and connected home security devices.

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