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

Socket Mobile, Inc. (NASDAQ:SCKT) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 37,679 shares, a drop of 17.5% from the March 31st total of 45,678 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 101,262 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Socket Mobile

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) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter. Institutional investors and hedge funds own 3.76% of the company’s stock.

Socket Mobile Trading Up 4.8%

SCKT stock traded up $0.04 during trading on Thursday, reaching $0.91. 3,865 shares of the stock were exchanged, compared to its average volume of 101,395. The stock has a 50 day simple moving average of $0.91 and a 200-day simple moving average of $1.04. Socket Mobile has a twelve month low of $0.82 and a twelve month high of $1.36. The company has a market capitalization of $7.46 million, a P/E ratio of -0.50 and a beta of 1.14.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($1.43) earnings per share for the quarter. Socket Mobile had a negative return on equity of 106.79% and a negative net margin of 95.36%.The firm had revenue of $3.96 million for the quarter.

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.