Socket Mobile (NASDAQ:SCKT) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.08 and traded as low as $0.8908. Socket Mobile shares last traded at $0.8951, with a volume of 44,274 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Socket Mobile has a consensus rating of “Sell”.

Socket Mobile Price Performance

The company’s 50-day moving average price is $1.09 and its 200-day moving average price is $1.08. The company has a market cap of $7.14 million, a P/E ratio of -0.49 and a beta of 1.50.

Socket Mobile (NASDAQ:SCKT) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($1.43) EPS for the quarter. The company had revenue of $3.96 million during the quarter. Socket Mobile had a negative net margin of 95.36% and a negative return on equity of 87.01%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned approximately 1.21% of Socket Mobile as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 3.76% of the company’s stock.

About Socket Mobile

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.