Smith Micro Software, Inc. (NASDAQ: SMSI) stock fell -7.87% on Friday to $0.72 against a previous-day closing price of $0.78. With 0.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.36 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $0.7853 whereas the lowest price it dropped to was $0.7000. The 52-week range on SMSI shows that it touched its highest point at $3.47 and its lowest point at $0.71 during that stretch. It currently has a 1-year price target of $3.25. Beta for the stock currently stands at 0.89.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMSI was down-trending over the past week, with a drop of -17.52%, but this was down by -34.98% over a month. Three-month performance dropped to -53.94% while six-month performance fell -43.43%. The stock lost -69.87% in the past year, while it has lost -65.79% so far this year. A look at the trailing 12-month EPS for SMSI yields -0.42 with Next year EPS estimates of 0.00. For the next quarter, that number is -0.02. This implies an EPS growth rate of 78.43% for this year and 100.00% for next year. EPS is expected to grow by 10.75% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.52%.
Float and Shares Shorts:
At present, 71.93 million SMSI shares are outstanding with a float of 63.93 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.25 million, which was 3.20% higher than short shares on Sep 28, 2023. In addition to Mr. William W. Smith Jr. as the firm’s Co-Founder, Chairman of the Board, President & CEO, Mr. James M. Kempton CPA serves as its VP, CFO & Treasurer.
Other institutions hold 9.06% of SMSI, in contrast to 6.06% held by mutual funds. Shares owned by individuals account for 10.68%. As the largest shareholder in SMSI with 4.10% of the stake, The Vanguard Group, Inc. holds 2,738,532 shares worth 2,738,532. A second-largest stockholder of SMSI, Pacific Ridge Capital Partners LL, holds 1,753,227 shares, controlling over 2.63% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in SMSI, holding 876,300 shares or 1.31% stake. With a 3.01% stake in SMSI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,009,704 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.03% of SMSI stock, is the second-largest Mutual Fund holder. It holds 685,753 shares valued at 0.73 million. State Board of Administration of holds 0.64% of the stake in SMSI, owning 430,110 shares worth 0.46 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMSI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
Summary of Insider Activity:
Insiders traded SMSI stock several times over the past three months with 3 Buys and 2 Sells. In these transactions, 145,950 shares were bought while 5,125 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 650,107 while 172,300 shares were sold.