Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Up 95.9% in May

Socket Mobile, Inc. (NASDAQ:SCKT) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 62,508 shares, a growth of 95.9% from the May 14th total of 31,908 shares. Based on an average daily trading volume, of 178,904 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.7% of the company’s shares are sold short.

Socket Mobile Stock Down 2.3%

SCKT stock traded down $0.02 during midday trading on Friday, hitting $0.91. The company’s stock had a trading volume of 207,336 shares, compared to its average volume of 229,184. The firm has a 50-day simple moving average of $0.89 and a 200-day simple moving average of $1.01. The firm has a market capitalization of $7.49 million, a P/E ratio of -0.51 and a beta of 1.21. Socket Mobile has a 52-week low of $0.81 and a 52-week high of $1.36.

Socket Mobile (NASDAQ:SCKT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $3.70 million for the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Socket Mobile currently has an average rating of “Sell”.

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. bought a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned 1.21% of Socket Mobile as of its most recent filing with the Securities and Exchange Commission (SEC). 3.76% of the stock is owned by hedge funds and other institutional investors.

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.