Smith Micro Software, Inc. (NASDAQ:SMSI) Closed 19.1% Above Its 50 Day Average

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It is trading at $1.56 which is quite a bit above the 50 day moving average of $1.31 and quite a bit higher than the 200 day moving average of $1.18. The 50 day moving average went up by +19.42% and the 200 day average moved up $0.38. (NASDAQ:SMSI) shares saw light trading volume with 297 shares changing hands by the end of trading on Tuesday. Overall, volume was down 99.01% under the stocks normal daily volume.

Traders are a little more bullish on Smith Micro Software, Inc. lately if you take into consideration the change in short interest. The firm realized a fall in short interest between September 15, 2017 and September 29, 2017 of -5.11%. Short shares fell from 244,927 to 232,421 over that timeframe. With short interest at 232,421 and short average daily volume at 20,730, days to cover is 11.0 and the percentage of shorted shares is 0.02% as of September 29.

A few notable investment firms have updated their holdings. Citadel Advisors LLC cut its investment by shedding 6,660 shares a decrease of 37.6% from 12/31/2015 to 06/30/2017. Citadel Advisors LLC owns 11,047 shares valued at $16,000. The total value of its holdings increased 23.1%.

Smith Micro Software, Inc. (Smith Micro), launched on May 25, 1995, is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company provides solutions and services to simplify and enhance the mobile experience. Using its device software, along with voice, video and messaging applications, the Company creates new opportunities to engage consumers and monetize mobile services. In addition to wireless and mobility software, the Company develops two-dimensional (2D) and three-dimensional (3D) graphics software used by professional artists, animators, illustrators and designers. The Company also offers Family Safety platform for family locator and parental controls..

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