Socket Mobile (NASDAQ:SCKT) Share Price Passes Above 200-Day Moving Average – What’s Next?

Socket Mobile, Inc. (NASDAQ:SCKT) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.09 and traded as high as $1.13. Socket Mobile shares last traded at $1.09, with a volume of 23,291 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Socket Mobile Price Performance

The stock has a market capitalization of $8.68 million, a price-to-earnings ratio of -2.87 and a beta of 1.33. The firm has a fifty day moving average of $1.01 and a 200 day moving average of $1.09.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.15) EPS for the quarter. Socket Mobile had a negative return on equity of 16.97% and a negative net margin of 18.48%.The firm had revenue of $3.11 million for the quarter. During the same quarter last year, the firm earned ($0.15) earnings per share.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Socket Mobile stock. AMH Equity Ltd boosted its stake in Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 125,398 shares of the company’s stock after acquiring an additional 9,098 shares during the quarter. AMH Equity Ltd owned 1.58% of Socket Mobile worth $142,000 as of its most recent filing with the SEC. Institutional investors own 3.76% of the company’s stock.

About Socket Mobile

Socket Mobile, Inc provides data capture and delivery solutions in the United States, Europe, Asia, and internationally. Its products and solutions are integrated into mobile applications for applications in the areas of point of sale, commercial services, asset tracking, manufacturing and quality control processes, transportation and logistics, event management, medical, and education.