Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.89 and traded as low as $0.4711. Socket Mobile shares last traded at $0.4711, with a volume of 14,941 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Socket Mobile presently has an average rating of “Sell”.

Socket Mobile Stock Performance

The stock’s fifty day moving average is $0.72 and its two-hundred day moving average is $0.89. The firm has a market cap of $3.88 million, a price-to-earnings ratio of -0.26 and a beta of 1.27.

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

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 quarter. 3.76% of the stock is currently owned by institutional investors and hedge funds.

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.