Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Rises By 1,389.6%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 67,031 shares, a growth of 1,389.6% from the February 26th total of 4,500 shares. Based on an average daily trading volume, of 557,297 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.5% of the company’s shares are sold short. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 557,297 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Trading of Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. bought a new position in Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to 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 at the end of the most recent reporting period. 3.76% of the stock is currently owned by institutional investors and hedge funds.

Socket Mobile Stock Up 0.5%

Shares of NASDAQ SCKT opened at $0.90 on Wednesday. Socket Mobile has a 52 week low of $0.82 and a 52 week high of $1.36. The firm’s fifty day moving average is $1.04 and its 200 day moving average is $1.07. The company has a market cap of $7.18 million, a price-to-earnings ratio of -0.50 and a beta of 1.12.

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

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.