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

Shares of 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 $1.09 and traded as low as $1.0202. Socket Mobile shares last traded at $1.05, with a volume of 11,372 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Socket Mobile Stock Up 2.9%

The stock has a fifty day moving average of $1.13 and a 200-day moving average of $1.09. The firm has a market capitalization of $8.38 million, a P/E ratio of -2.76 and a beta of 1.49.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.15) EPS for the quarter. The company had revenue of $3.11 million for the quarter. Socket Mobile had a negative return on equity of 17.40% and a negative net margin of 18.48%.During the same quarter in the prior year, the company posted ($0.15) earnings per share.

Insider Buying and Selling at Socket Mobile

In related news, Director Ivan Lazarev purchased 30,005 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $1.14 per share, with a total value of $34,205.70. Following the completion of the acquisition, the director directly owned 66,114 shares in the company, valued at approximately $75,369.96. This trade represents a 83.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 130,176 shares of company stock valued at $152,313 over the last three months. Company insiders own 48.10% of the company’s stock.

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.