Socket Mobile (NASDAQ:SCKT) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.09 and traded as low as $1.09. Socket Mobile shares last traded at $1.1250, with a volume of 20,908 shares.

Wall Street Analyst Weigh In

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

Socket Mobile Stock Down 5.5%

The company’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.09. The firm has a market cap of $8.98 million, a PE ratio of -2.96 and a beta of 1.50.

Insider Activity at Socket Mobile

In other Socket Mobile news, Director Ivan Lazarev bought 30,005 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $1.14 per share, with a total value of $34,205.70. Following the completion of the purchase, the director owned 66,114 shares in the company, valued at $75,369.96. This represents a 83.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 105,109 shares of company stock worth $126,644 over the last quarter. Corporate insiders own 44.80% 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.