Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Decrease in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKTGet Free Report) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 5,500 shares, a drop of 56.0% from the September 15th total of 12,500 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 14,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 14,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Get Our Latest Research Report on SCKT

Institutional Investors Weigh In On Socket Mobile

A hedge fund recently raised its stake in Socket Mobile stock. AMH Equity Ltd boosted its stake in shares of Socket Mobile, Inc. (NASDAQ:SCKTFree Report) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,398 shares of the company’s stock after buying an additional 9,098 shares during the quarter. AMH Equity Ltd owned approximately 1.58% of Socket Mobile worth $142,000 as of its most recent SEC filing. 3.76% of the stock is owned by institutional investors and hedge funds.

Socket Mobile Stock Performance

Shares of NASDAQ SCKT opened at $0.96 on Friday. Socket Mobile has a 52-week low of $0.82 and a 52-week high of $1.72. The firm’s 50 day moving average price is $1.02 and its 200-day moving average price is $1.11. The company has a market cap of $7.60 million, a PE ratio of -2.51 and a beta of 0.99.

Socket Mobile (NASDAQ:SCKTGet Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.10) earnings per share for the quarter. Socket Mobile had a negative net margin of 17.13% and a negative return on equity of 16.35%. The company had revenue of $4.04 million for the quarter.

About Socket Mobile

(Get Free Report)

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.

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