Socket Mobile (NASDAQ:SCKT) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Socket Mobile, Inc. (NASDAQ:SCKT) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.04 and traded as low as $0.8301. Socket Mobile shares last traded at $0.8350, with a volume of 15,325 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research report on Friday, April 10th. 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”.

Socket Mobile Stock Performance

The stock has a market cap of $6.88 million, a price-to-earnings ratio of -0.47 and a beta of 1.21. The firm’s 50-day simple moving average is $0.89 and its two-hundred day simple moving average is $1.04.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period. Institutional investors 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.