Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Increase in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 258,725 shares, a growth of 468.1% from the September 30th total of 45,540 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily volume of 28,997,934 shares, the days-to-cover ratio is currently 0.0 days.

Socket Mobile Trading Up 7.3%

Shares of SCKT traded up $0.02 during mid-day trading on Thursday, reaching $0.36. The company’s stock had a trading volume of 296,756 shares, compared to its average volume of 3,035,095. The company’s fifty day moving average price is $0.57 and its two-hundred day moving average price is $0.80. The stock has a market cap of $3.03 million, a PE ratio of -0.20 and a beta of 1.40. Socket Mobile has a 52 week low of $0.33 and a 52 week high of $2.79.

Socket Mobile (NASDAQ:SCKT) last posted its earnings results on Thursday, July 30th. The company reported ($0.16) earnings per share for the quarter. Socket Mobile had a negative return on equity of 229.41% and a negative net margin of 107.50%. The firm had revenue of $3.03 million for the quarter.

Analyst Upgrades and Downgrades

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

About Socket Mobile

Socket Mobile, Inc develops and sells data capture solutions designed to help businesses collect and transmit information using mobile devices. Its products include cordless barcode scanners, contactless and NFC readers, and related accessories used with smartphones, tablets, computers, and point-of-sale systems.

The company also provides software development tools and integration services, including its CaptureSDK and SocketCam solutions, which enable developers and business applications to incorporate barcode scanning and other data capture capabilities.