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

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.03 and traded as low as $0.9001. Socket Mobile shares last traded at $0.96, with a volume of 467,606 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a 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 a consensus rating of “Sell”.

Socket Mobile Trading Up 3.2%

The company has a market capitalization of $7.91 million, a PE ratio of -0.54 and a beta of 1.21. The stock has a fifty day moving average of $0.89 and a two-hundred day moving average of $1.03.

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

Hedge Funds Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. purchased a new position in Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 owned by institutional investors.

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.