Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Update

Socket Mobile, Inc. (NASDAQ:SCKT) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 62,508 shares, an increase of 95.9% from the May 14th total of 31,908 shares. Based on an average trading volume of 178,904 shares, the short-interest ratio is currently 0.3 days. Currently, 1.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing. Institutional investors and hedge funds own 3.76% of the company’s stock.

Socket Mobile Stock Up 0.5%

Shares of Socket Mobile stock traded up $0.00 on Tuesday, reaching $0.89. 109,339 shares of the stock were exchanged, compared to its average volume of 119,016. Socket Mobile has a twelve month low of $0.81 and a twelve month high of $1.36. The firm has a market capitalization of $7.32 million, a price-to-earnings ratio of -0.50 and a beta of 1.21. The business has a 50 day moving average price of $0.89 and a two-hundred day moving average price of $1.00.

Socket Mobile (NASDAQ:SCKT) last released its earnings results on Tuesday, May 5th. The company reported ($0.11) EPS for the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.The firm had revenue of $3.70 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a report on Friday, April 10th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.