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

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 504,612 shares, a growth of 95.0% from the October 15th total of 258,725 shares. Approximately 13.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,105,233 shares, the days-to-cover ratio is presently 0.5 days.

Socket Mobile Stock Up 0.4%

SCKT traded up $0.00 during trading on Friday, reaching $0.46. The company had a trading volume of 3,250,641 shares, compared to its average volume of 12,581,101. The business has a 50 day simple moving average of $0.49 and a 200-day simple moving average of $0.75. The stock has a market cap of $3.83 million, a P/E ratio of -0.26 and a beta of 1.46. Socket Mobile has a 52 week low of $0.25 and a 52 week high of $2.79.

Socket Mobile (NASDAQ:SCKT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Socket Mobile had a negative net margin of 102.45% and a negative return on equity of 423.92%. The firm had revenue of $3.39 million for the quarter, compared to the consensus estimate of $4.07 million.

Analyst Ratings Changes

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

About Socket Mobile

Socket Mobile, Inc. develops and sells data capture solutions designed to help businesses collect and transmit information using mobile devices. Its products include cordless barcode scanners, contactless and NFC readers, and related accessories used with smartphones, tablets, computers, and point-of-sale systems. The company also provides software development tools and integration services, including its CaptureSDK and SocketCam solutions, which enable developers and business applications to incorporate barcode scanning and other data capture capabilities.