Socket Mobile (NASDAQ:SCKT) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.89 and traded as low as $0.4711. Socket Mobile shares last traded at $0.4711, with a volume of 14,941 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Socket Mobile Stock Down 3.8%

The company has a market capitalization of $3.88 million, a PE ratio of -0.26 and a beta of 1.27. The stock’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.89.

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

Hedge Funds 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 Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.