Socket Mobile (NASDAQ:SCKT) Announces Quarterly Earnings Results

Socket Mobile (NASDAQ:SCKT) announced its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12), FiscalAI reports. Socket Mobile had a negative net margin of 107.50% and a negative return on equity of 229.41%. The firm had revenue of $3.39 million during the quarter, compared to the consensus estimate of $4.07 million.

Socket Mobile Stock Up 1.0%

Shares of SCKT stock traded up $0.00 during mid-day trading on Wednesday, reaching $0.30. 195,213 shares of the stock traded hands, compared to its average volume of 2,981,394. The stock’s fifty day simple moving average is $0.54 and its two-hundred day simple moving average is $0.79. The company has a market cap of $2.49 million, a price-to-earnings ratio of -0.16 and a beta of 1.46. Socket Mobile has a 1-year low of $0.28 and a 1-year high of $2.79.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Socket Mobile has an average rating of “Sell”.

About Socket Mobile

Socket Mobile, Inc develops and sells data capture solutions designed to help businesses collect and transmit information using mobile devices. Its products include cordless barcode scanners, contactless and NFC readers, and related accessories used with smartphones, tablets, computers, and point-of-sale systems.

The company also provides software development tools and integration services, including its CaptureSDK and SocketCam solutions, which enable developers and business applications to incorporate barcode scanning and other data capture capabilities.