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

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 143,975 shares, a drop of 45.3% from the August 15th total of 263,300 shares. Based on an average trading volume of 579,044 shares, the days-to-cover ratio is currently 0.2 days. Approximately 3.8% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Trading of Socket Mobile

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. purchased 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 purchased 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 SEC filing. 3.76% of the stock is owned by hedge funds and other institutional investors.

Socket Mobile Trading Down 2.8%

Socket Mobile stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.49. The company’s stock had a trading volume of 68,782 shares, compared to its average volume of 1,669,869. The firm has a market capitalization of $4.05 million, a PE ratio of -0.26 and a beta of 1.36. Socket Mobile has a 1 year low of $0.38 and a 1 year high of $2.79. The stock’s fifty day moving average is $0.65 and its two-hundred day moving average is $0.79.

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

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.