Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Decline in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) saw a significant decline in short interest in April. As of April 15th, there was short interest totaling 37,679 shares, a decline of 17.5% from the March 31st total of 45,678 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 101,262 shares, the days-to-cover ratio is currently 0.4 days.

Socket Mobile Price Performance

Shares of NASDAQ:SCKT traded up $0.04 during trading on Thursday, reaching $0.91. The stock had a trading volume of 3,865 shares, compared to its average volume of 101,395. Socket Mobile has a 52 week low of $0.82 and a 52 week high of $1.36. The business’s 50-day moving average price is $0.91 and its 200 day moving average price is $1.04. The stock has a market capitalization of $7.46 million, a PE ratio of -0.50 and a beta of 1.14.

Socket Mobile (NASDAQ:SCKT) last posted its earnings results on Monday, February 23rd. The company reported ($1.43) earnings per share (EPS) for the quarter. Socket Mobile had a negative net margin of 95.36% and a negative return on equity of 106.79%. The firm had revenue of $3.96 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a report on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Socket Mobile has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new position in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent 13F 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 about 1.21% of Socket Mobile at the end of the most recent reporting period. 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.