Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Down 50.7% in February

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 6,389 shares, a decrease of 50.7% from the January 29th total of 12,960 shares. Based on an average daily trading volume, of 10,151 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 10,151 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Socket Mobile currently has an average rating of “Sell”.

Socket Mobile Stock Performance

Shares of NASDAQ:SCKT opened at $0.90 on Friday. Socket Mobile has a 12-month low of $0.82 and a 12-month high of $1.36. The business’s fifty day simple moving average is $1.09 and its 200-day simple moving average is $1.08. The company has a market capitalization of $7.14 million, a PE ratio of -0.49 and a beta of 1.50.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 the company in its most recent filing with the SEC. The fund 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 currently owned by hedge funds and other 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.