Socket Mobile (NASDAQ:SCKT) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.02 and traded as low as $0.8505. Socket Mobile shares last traded at $0.86, with a volume of 137,857 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a report on Friday, April 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Socket Mobile has a consensus rating of “Sell”.

Socket Mobile Stock Performance

The stock has a market capitalization of $7.09 million, a P/E ratio of -0.48 and a beta of 1.21. The stock’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $1.02.

Socket Mobile (NASDAQ:SCKT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.11) earnings per share for the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.The business 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. bought a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned about 1.21% of Socket Mobile at the end of the most recent reporting period. 3.76% of the stock is 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.