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

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.89 and traded as low as $0.4711. Socket Mobile shares last traded at $0.4711, with a volume of 14,941 shares.

Analysts Set New Price Targets

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

Socket Mobile Trading Down 3.8%

The company has a 50-day moving average of $0.72 and a 200-day moving average of $0.89. The firm has a market capitalization of $3.88 million, a price-to-earnings ratio of -0.26 and a beta of 1.27.

Socket Mobile (NASDAQ:SCKT) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.11) EPS for the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.The business had revenue of $3.70 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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. Institutional investors and hedge funds own 3.76% of the company’s stock.

About Socket Mobile

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.