Socket Mobile (NASDAQ:SCKT) Stock Crosses Below 200 Day Moving Average – Here’s Why

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.94 and traded as low as $0.5410. Socket Mobile shares last traded at $0.5883, with a volume of 119,422 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Socket Mobile Price Performance

The business has a 50-day moving average of $0.80 and a 200 day moving average of $0.94. The company has a market capitalization of $4.85 million, a PE ratio of -0.33 and a beta of 1.27.

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

Institutional Investors Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new position in Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 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.