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

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 67,031 shares, a growth of 1,389.6% from the February 26th total of 4,500 shares. Based on an average daily trading volume, of 557,297 shares, the short-interest ratio is currently 0.1 days. Approximately 1.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. bought a new position in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 institutional investors.

Wall Street Analyst Weigh In

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

Socket Mobile Price Performance

Shares of NASDAQ SCKT traded up $0.03 during mid-day trading on Thursday, hitting $0.91. The company had a trading volume of 765 shares, compared to its average volume of 114,983. Socket Mobile has a 12 month low of $0.82 and a 12 month high of $1.36. The firm has a market cap of $7.28 million, a P/E ratio of -0.50 and a beta of 1.12. The business’s 50-day simple moving average is $1.04 and its 200-day simple moving average is $1.07.

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

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.