Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Increase in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 258,725 shares, an increase of 468.1% from the September 30th total of 45,540 shares. Based on an average daily trading volume, of 28,997,934 shares, the short-interest ratio is currently 0.0 days. Approximately 6.9% of the company’s stock are sold short.

Socket Mobile Trading Up 6.3%

Shares of Socket Mobile stock traded up $0.03 on Tuesday, reaching $0.52. The stock had a trading volume of 25,933 shares, compared to its average volume of 3,058,359. The company has a market cap of $4.34 million, a P/E ratio of -0.28 and a beta of 1.40. The business’s 50 day moving average is $0.59 and its two-hundred day moving average is $0.81. Socket Mobile has a 1 year low of $0.38 and a 1 year high of $2.79.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Socket Mobile Company Profile

Socket Mobile, Inc develops and supplies data capture solutions that help businesses collect and transmit information using mobile devices. Its products are designed for applications in retail, point-of-sale, healthcare, transportation, field service, manufacturing and other commercial environments.

The company’s product portfolio includes wireless barcode scanners, contactless and NFC readers, and camera-based scanning solutions. Its offerings include handheld and wearable devices as well as software development tools, such as the CaptureSDK and SocketCam, which enable developers to integrate barcode and data capture functionality into mobile applications.

Founded in 1992, Socket Mobile is headquartered in Newark, California.