Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.85 and traded as low as $0.3860. Socket Mobile shares last traded at $0.39, with a volume of 71,834 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Socket Mobile Trading Down 1.5%

The stock has a fifty day simple moving average of $0.64 and a two-hundred day simple moving average of $0.85. The company has a market cap of $3.21 million, a PE ratio of -0.21 and a beta of 1.28.

Socket Mobile (NASDAQ:SCKT) last issued its earnings results on Thursday, July 30th. The company reported ($0.16) earnings per share (EPS) for the quarter. The business had revenue of $3.03 million for the quarter. Socket Mobile had a negative return on equity of 189.51% and a negative net margin of 107.50%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Socket Mobile stock. MV Capital Management Inc. bought a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 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 filing with the SEC. 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.