Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Up 1,389.6% in March

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 67,031 shares, an increase of 1,389.6% from the February 26th total of 4,500 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 557,297 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 557,297 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Institutional Trading of Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. purchased a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned approximately 1.21% of Socket Mobile at the end of the most recent quarter. Institutional investors and hedge funds own 3.76% of the company’s stock.

Socket Mobile Stock Up 0.5%

Shares of NASDAQ:SCKT traded up $0.00 during midday trading on Tuesday, reaching $0.90. The company’s stock had a trading volume of 52,408 shares, compared to its average volume of 118,800. The stock has a fifty day moving average of $1.05 and a 200 day moving average of $1.07. Socket Mobile has a twelve month low of $0.82 and a twelve month high of $1.36. The firm has a market capitalization of $7.18 million, a PE ratio of -0.50 and a beta of 1.13.

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

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.