Smith Micro Software Sees Unusually Large Options Volume (NASDAQ:SMSI)

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Smith Micro Software, Inc. (NASDAQ:SMSI) was the target of unusually large options trading activity on Tuesday. Investors bought 3,941 call options on the company. This represents an increase of 220% compared to the average daily volume of 1,231 call options.

A number of brokerages have recently weighed in on SMSI. B. Riley boosted their price target on Smith Micro Software from $5.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, January 13th. They noted that the move was a valuation call. TheStreet upgraded Smith Micro Software from a “c+” rating to a “b-” rating in a research report on Wednesday, December 2nd. Lake Street Capital assumed coverage on Smith Micro Software in a research report on Monday, October 19th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Zacks Investment Research lowered Smith Micro Software from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th.

Smith Micro Software stock traded down $0.12 during mid-day trading on Tuesday, hitting $7.67. The company had a trading volume of 5,646 shares, compared to its average volume of 466,690. Smith Micro Software has a 12-month low of $3.28 and a 12-month high of $8.05. The company’s fifty day moving average is $6.44 and its 200-day moving average is $4.87. The company has a market capitalization of $316.73 million, a price-to-earnings ratio of 45.82 and a beta of 0.86.

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

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Smith Micro Software by 4.0% during the 4th quarter. BlackRock Inc. now owns 2,152,476 shares of the software maker’s stock worth $11,667,000 after buying an additional 83,730 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in Smith Micro Software by 55.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 900,398 shares of the software maker’s stock valued at $4,880,000 after purchasing an additional 322,143 shares during the last quarter. State Street Corp raised its stake in Smith Micro Software by 7.3% in the 3rd quarter. State Street Corp now owns 383,246 shares of the software maker’s stock valued at $1,430,000 after purchasing an additional 26,033 shares during the last quarter. AQR Capital Management LLC acquired a new position in Smith Micro Software in the 3rd quarter valued at $1,319,000. Finally, Bank of New York Mellon Corp raised its stake in Smith Micro Software by 17.1% in the 4th quarter. Bank of New York Mellon Corp now owns 256,004 shares of the software maker’s stock valued at $1,388,000 after purchasing an additional 37,424 shares during the last quarter. 22.35% of the stock is owned by institutional investors and hedge funds.

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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