Socket Mobile (NASDAQ:SCKT) Stock Passes Below 200-Day Moving Average – Time to Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.91 and traded as low as $0.5003. Socket Mobile shares last traded at $0.5121, with a volume of 22,869 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Socket Mobile Stock Performance

The firm has a market capitalization of $4.17 million, a P/E ratio of -0.28 and a beta of 1.27. The business has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $0.91.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.11) EPS for the quarter. The business had revenue of $3.70 million for the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. purchased a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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. Hedge funds and other institutional investors own 3.76% of the company’s stock.

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.