Socket Mobile, Inc. (NASDAQ:SCKT) Sees Significant Growth in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 9,400 shares, an increase of 95.8% from the February 28th total of 4,800 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Socket Mobile

An institutional investor recently raised its position in Socket Mobile stock. Renaissance Technologies LLC raised its holdings in Socket Mobile, Inc. (NASDAQ:SCKT) by 77.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 45,200 shares of the company’s stock after acquiring an additional 19,700 shares during the period. Renaissance Technologies LLC owned 0.59% of Socket Mobile worth $60,000 at the end of the most recent reporting period. 3.76% of the stock is currently owned by hedge funds and other institutional investors.

Socket Mobile Stock Performance

SCKT stock traded down $0.02 during trading on Friday, hitting $1.13. The stock had a trading volume of 8,225 shares, compared to its average volume of 18,599. The stock has a market cap of $8.59 million, a price-to-earnings ratio of -5.14 and a beta of 1.03. The company’s 50 day moving average price is $1.29 and its two-hundred day moving average price is $1.29. Socket Mobile has a 1-year low of $0.91 and a 1-year high of $1.72.

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.