The Vanguard Group, Inc. recently announced the acquisition of new stake in Smith Micro Software, Inc. (NASDAQ:SMSI). The institutional investor has increased its shareholding in the Technology company by 0.21% to 2.74 million shares with purchase of 5787.0 shares. This fresh investment now brings its stake to 3.81% valued currently at $1.86 million. In addition, Renaissance Technologies LLC raised its holdings by 0.27 million to 0.88 million shares. And Geode Capital Management LLC has lifted its position by 13.12% or 77985.0 shares – to 0.67 million shares.
With over 0.46 million Smith Micro Software, Inc. (SMSI) shares trading Friday and a closing price of $0.83 on the day, the dollar volume was approximately $0.38 million. The shares have shown a negative half year performance of -25.59% and its price on 12/29/23 gained nearly 0.73%. Currently, there are 71.93M common shares owned by the public and among those 64.55M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for SMSI have a consensus price objective of $3.25. The analysts have set the share’s price value over the next 12 months at a high of $4.50 and a low of $1.50. The average price target is 74.46% above its recent price level and an upside to the estimated low will see the stock gain 44.67% over that period. But an upside of 81.56% will see the stock hit the forecast high price target while median target price for the stock is $3.50.
Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 675,107 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 176,072 shares.
The top 3 mutual fund holders in Smith Micro Software, Inc. are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and State Board of Administration of. Vanguard Total Stock Market ETF owns 2.01 million shares of the company’s stock, all valued at over $1.36 million. Vanguard Extended Market Index Fu bought 4689.0 shares to see its total holdings expand to 0.69 million shares valued at over $0.47 million and representing 0.95% of the shares outstanding. State Board of Administration of bought 98910.0 shares to bring its total holdings to over 0.43 million shares at a value of $0.29 million. State Board of Administration of now owns shares totaling to 0.60% of the shares outstanding.
Shares of Smith Micro Software, Inc. (NASDAQ: SMSI) opened at $0.81, down -$0.01 from a prior closing price of $0.82. However, the script later moved the day high at 0.8500, up 0.73%. The company’s stock has a 5-day price change of 7.61% and -31.74% over the past three months. SMSI shares are trading -60.67% year to date (YTD), with the 12-month market performance down to -59.31% lower. It has a 12-month low price of $0.65 and touched a high of $3.47 over the same period. SMSI has an average intraday trading volume of 344.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.11%, -4.59%, and -27.44% respectively.
Institutional ownership of Smith Micro Software, Inc. (NASDAQ: SMSI) shares accounts for 14.02% of the company’s 71.93M shares outstanding. Mutual fund holders own 8.37%, while other institutional holders and individual stakeholders account for 9.86% and 5.64% respectively.
It has a market capitalization of $59.41M and a beta (3y monthly) value of 0.79. The earnings-per-share (ttm) stands at -$0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.78% over the week and 9.04% over the month.
Analysts forecast that Smith Micro Software, Inc. (SMSI) will achieve an EPS of -$0.02 for the current quarter, -$0.02 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 78.43%, and 100.00% over the next financial year. EPS should grow at an annualized rate of 10.75% over the next five years, compared to -1.52% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Smith Micro Software, Inc. (SMSI) as a “Strong Buy” at a consensus score of 1.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SMSI, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on November 29, 2022, with the firm’s price target at $5.
