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

Socket Mobile, Inc. (NASDAQ:SCKT)’s share 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 $1.07. Socket Mobile shares last traded at $1.09, with a volume of 23,291 shares traded.

Wall Street Analyst Weigh In

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

Socket Mobile Trading Up 0.9%

The firm’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $1.09. The stock has a market cap of $8.68 million, a P/E ratio of -2.87 and a beta of 1.33.

Socket Mobile (NASDAQ:SCKT) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.15) earnings per share for the quarter. The business had revenue of $3.11 million for the quarter. Socket Mobile had a negative net margin of 18.48% and a negative return on equity of 16.97%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share.

Institutional Trading of Socket Mobile

A hedge fund recently raised its stake in Socket Mobile stock. AMH Equity Ltd boosted its position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,398 shares of the company’s stock after buying an additional 9,098 shares during the quarter. AMH Equity Ltd owned 1.58% of Socket Mobile worth $142,000 at the end of the most recent quarter. Institutional investors and hedge funds own 3.76% of the company’s stock.

About Socket Mobile

Socket Mobile, Inc provides data capture and delivery solutions in the United States, Europe, Asia, and internationally. Its products and solutions are integrated into mobile applications for applications in the areas of point of sale, commercial services, asset tracking, manufacturing and quality control processes, transportation and logistics, event management, medical, and education.