Socket Mobile (NASDAQ:SCKT) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.10 and traded as low as $0.91. Socket Mobile shares last traded at $0.95, with a volume of 10,343 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Socket Mobile presently has a consensus rating of “Sell”.

Socket Mobile Stock Performance

The firm’s 50-day moving average is $1.02 and its 200 day moving average is $1.10. The firm has a market capitalization of $7.55 million, a PE ratio of -2.50 and a beta of 0.99.

Socket Mobile (NASDAQ:SCKT) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.15) EPS for the quarter. Socket Mobile had a negative return on equity of 16.97% and a negative net margin of 18.48%.The business had revenue of $3.11 million during the quarter. During the same quarter in the previous year, the company earned ($0.15) EPS.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Socket Mobile stock. AMH Equity Ltd raised its position in Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,398 shares of the company’s stock after purchasing an additional 9,098 shares during the period. AMH Equity Ltd owned about 1.58% of Socket Mobile worth $142,000 at the end of the most recent reporting period. 3.76% of the stock is owned by institutional investors and hedge funds.

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.