Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Up 389.8% in August

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 263,300 shares, an increase of 389.8% from the July 30th total of 53,754 shares. Approximately 7.0% of the shares of the company are short sold. Based on an average daily volume of 26,079,433 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Socket Mobile

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) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm 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 SEC filing. Institutional investors own 3.76% of the company’s stock.

Socket Mobile Trading Up 5.0%

SCKT stock opened at $0.67 on Wednesday. Socket Mobile has a 1-year low of $0.38 and a 1-year high of $2.79. The business’s 50 day moving average is $0.66 and its 200-day moving average is $0.83. The firm has a market cap of $5.58 million, a P/E ratio of -0.36 and a beta of 1.28.

Socket Mobile (NASDAQ:SCKT) last posted its earnings results on Thursday, July 30th. The company reported ($0.16) EPS for the quarter. The company had revenue of $3.03 million for the quarter. Socket Mobile had a negative return on equity of 229.41% and a negative net margin of 107.50%.

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.