Socket Mobile (NASDAQ:SCKT) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.07 and traded as high as $1.07. Socket Mobile shares last traded at $0.9645, with a volume of 1,000,232 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Socket Mobile Price Performance

The firm’s 50-day moving average price is $1.07 and its 200-day moving average price is $1.08. The stock has a market cap of $7.70 million, a P/E ratio of -0.53 and a beta of 1.13.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. Institutional investors and hedge funds own 3.76% of the company’s stock.

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.