Socket Mobile, Inc. (NASDAQ:SCKT) Sees Significant Growth in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 504,612 shares, a growth of 95.0% from the October 15th total of 258,725 shares. Based on an average trading volume of 1,105,233 shares, the short-interest ratio is presently 0.5 days. Currently, 13.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Socket Mobile Stock Up 0.4%

Shares of SCKT stock traded up $0.00 on Friday, hitting $0.46. The stock had a trading volume of 3,250,641 shares, compared to its average volume of 12,581,101. Socket Mobile has a one year low of $0.25 and a one year high of $2.79. The business has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.75. The company has a market cap of $3.83 million, a PE ratio of -0.26 and a beta of 1.46.

Socket Mobile (NASDAQ:SCKT) last issued its earnings results on Wednesday, November 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Socket Mobile had a negative return on equity of 423.92% and a negative net margin of 102.45%. The business had revenue of $3.39 million for the quarter, compared to the consensus estimate of $4.07 million.

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.