Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Declines By 45.3%

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 143,975 shares, a decrease of 45.3% from the August 15th total of 263,300 shares. Based on an average daily trading volume, of 579,044 shares, the short-interest ratio is presently 0.2 days. Approximately 3.8% of the company’s shares are short sold.

Socket Mobile Stock Up 2.6%

NASDAQ SCKT traded up $0.01 during trading on Thursday, reaching $0.51. 29,368 shares of the stock traded hands, compared to its average volume of 1,651,707. Socket Mobile has a fifty-two week low of $0.38 and a fifty-two week high of $2.79. The firm has a market cap of $4.25 million, a price-to-earnings ratio of -0.28 and a beta of 1.36. The stock’s 50-day moving average price is $0.65 and its 200 day moving average price is $0.78.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly 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 firm had revenue of $3.03 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to the company in its most recent 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 approximately 1.21% of Socket Mobile at the end of the most recent reporting period. 3.76% of the stock is currently owned by hedge funds and other institutional investors.

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.