Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.10 and traded as low as $1.0433. Socket Mobile shares last traded at $1.05, with a volume of 3,620 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a research note on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Socket Mobile has a consensus rating of “Sell”.

Socket Mobile Price Performance

The stock has a market cap of $8.38 million, a PE ratio of -2.76 and a beta of 1.43. The company’s fifty day moving average is $1.12 and its 200-day moving average is $1.10.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter. Socket Mobile had a negative net margin of 18.48% and a negative return on equity of 17.40%. The company had revenue of $3.11 million during the quarter. During the same period in the previous year, the business posted ($0.15) earnings per share.

Insider Transactions at Socket Mobile

In other Socket Mobile news, Director Ivan Lazarev bought 30,005 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $1.14 per share, for a total transaction of $34,205.70. Following the transaction, the director directly owned 66,114 shares of the company’s stock, valued at approximately $75,369.96. The trade was a 83.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 130,176 shares of company stock worth $152,313 over the last quarter. Corporate insiders own 48.10% of the company’s stock.

Socket Mobile Company Profile

Socket Mobile, Inc (NASDAQ:SCKT) is a provider of mobile data capture and wireless connectivity solutions, designing products that enable smartphones, tablets and PCs to collect and transmit information in a variety of business environments. The company specializes in Bluetooth-enabled barcode scanners, RFID readers and image-based data capture devices that streamline point-of-sale, inventory management and field-service workflows.

Its product portfolio includes handheld scanners that support 1D and 2D barcodes, near-field communication (NFC) readers and ultra-compact mobile scanners engineered for retail, hospitality, healthcare, transportation and warehousing applications.