Socket Mobile (NASDAQ:SCKT) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.06 and traded as low as $0.86. Socket Mobile shares last traded at $0.8805, with a volume of 48,842 shares changing hands.

Analyst Upgrades and Downgrades

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

Socket Mobile Stock Down 6.3%

The company has a fifty day simple moving average of $0.98 and a 200-day simple moving average of $1.06. The firm has a market cap of $7.24 million, a P/E ratio of -0.49 and a beta of 1.14.

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

Institutional Trading of Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. purchased a new stake 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 & Exchange Commission. The fund purchased 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned 1.21% of Socket Mobile as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 3.76% 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.