Socket Mobile (NASDAQ:SCKT) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.04 and traded as low as $0.8301. Socket Mobile shares last traded at $0.8350, with a volume of 15,325 shares.

Wall Street Analysts Forecast Growth

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 MarketBeat, the stock presently has an average rating of “Sell”.

Socket Mobile Stock Up 2.4%

The firm has a market capitalization of $7.00 million, a PE ratio of -0.47 and a beta of 1.21. The stock’s fifty day simple moving average is $0.89 and its 200 day simple moving average is $1.03.

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

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. purchased a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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. 3.76% of the stock is owned by 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.