Socket Mobile (NASDAQ:SCKT) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.94 and traded as low as $0.5410. Socket Mobile shares last traded at $0.5883, with a volume of 119,422 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Socket Mobile Trading Down 3.7%

The firm has a market capitalization of $4.47 million, a PE ratio of -0.30 and a beta of 1.27. The business has a 50 day moving average price of $0.79 and a 200-day moving average price of $0.93.

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

Institutional Investors Weigh In On Socket Mobile

A hedge fund recently bought a new position in Socket Mobile stock. MV Capital Management Inc. purchased a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.76% of the company’s stock.

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.