Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Drops By 45.3%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 143,975 shares, a decrease of 45.3% from the August 15th total of 263,300 shares. Based on an average daily volume of 579,044 shares, the short-interest ratio is currently 0.2 days. Currently, 3.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Socket Mobile presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Socket Mobile

A hedge fund 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 fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned approximately 1.21% of Socket Mobile as of its most recent filing with the Securities & Exchange Commission. 3.76% of the stock is currently owned by hedge funds and other institutional investors.

Socket Mobile Stock Performance

Shares of NASDAQ:SCKT traded down $0.01 during midday trading on Tuesday, hitting $0.49. The company’s stock had a trading volume of 68,782 shares, compared to its average volume of 1,669,869. The business’s 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.79. The company has a market cap of $4.05 million, a P/E ratio of -0.26 and a beta of 1.36. Socket Mobile has a 12-month low of $0.38 and a 12-month high of $2.79.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.16) earnings per share (EPS) for the quarter. The business had revenue of $3.03 million for the quarter. Socket Mobile had a negative net margin of 107.50% and a negative return on equity of 229.41%.

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.