Socket Mobile (NASDAQ:SCKT) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.06 and traded as low as $0.85. Socket Mobile shares last traded at $0.8688, with a volume of 10,690 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Socket Mobile currently has a consensus rating of “Sell”.

Socket Mobile Stock Down 2.1%

The company has a 50-day moving average of $1.01 and a 200-day moving average of $1.06. The company has a market cap of $7.19 million, a PE ratio of -0.48 and a beta of 1.14.

Socket Mobile (NASDAQ:SCKT) last released its quarterly earnings results on Monday, February 23rd. The company reported ($1.43) EPS for the quarter. The company had revenue of $3.96 million during the quarter. Socket Mobile had a negative net margin of 95.36% and a negative return on equity of 87.01%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned 1.21% of Socket Mobile at the end of the most recent reporting period. 3.76% of the stock is currently 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.