Socket Mobile (NASDAQ:SCKT) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $0.74 and traded as low as $0.5230. Socket Mobile shares last traded at $0.5350, with a volume of 162,353 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Socket Mobile has a consensus rating of “Sell”.

Socket Mobile Price Performance

The firm has a fifty day simple moving average of $0.69 and a two-hundred day simple moving average of $0.73. The firm has a market capitalization of $3.94 million, a P/E ratio of -0.26 and a beta of 1.40.

Socket Mobile (NASDAQ:SCKT) last issued its earnings results on Thursday, July 30th. The company reported ($0.16) earnings per share for the quarter. Socket Mobile had a negative return on equity of 229.41% and a negative net margin of 107.50%. The business had revenue of $3.03 million for the quarter.

Hedge Funds Weigh In On Socket Mobile

A hedge fund recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to 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 1.21% of Socket Mobile as of its most recent filing with the SEC. 3.76% of the stock is currently owned by institutional investors and hedge funds.

About Socket Mobile

Socket Mobile, Inc develops and supplies data capture solutions that help businesses collect and transmit information using mobile devices. Its products are designed for applications in retail, point-of-sale, healthcare, transportation, field service, manufacturing and other commercial environments.

The company’s product portfolio includes wireless barcode scanners, contactless and NFC readers, and camera-based scanning solutions. Its offerings include handheld and wearable devices as well as software development tools, such as the CaptureSDK and SocketCam, which enable developers to integrate barcode and data capture functionality into mobile applications.

Founded in 1992, Socket Mobile is headquartered in Newark, California.