Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.07 and traded as low as $0.85. Socket Mobile shares last traded at $0.8783, with a volume of 31,680 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Socket Mobile currently has a consensus rating of “Sell”.

Socket Mobile Price Performance

The stock has a 50 day simple moving average of $1.06 and a two-hundred day simple moving average of $1.07. The company has a market cap of $7.01 million, a price-to-earnings ratio of -0.49 and a beta of 1.12.

Socket Mobile (NASDAQ:SCKT) last issued its earnings results on Monday, February 23rd. The company reported ($1.43) earnings per share (EPS) for the quarter. The company had revenue of $3.96 million during the quarter. Socket Mobile had a negative return on equity of 87.01% and a negative net margin of 95.36%.

Hedge Funds Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. bought a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned about 1.21% of Socket Mobile as of its most recent SEC filing. 3.76% of the stock is owned by institutional investors.

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.