Socket Mobile (NASDAQ:SCKT) Stock Passes Below 200-Day Moving Average – Here’s Why

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.83 and traded as low as $0.6061. Socket Mobile shares last traded at $0.6725, with a volume of 884,760 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Socket Mobile Price Performance

The company’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $0.83. The company has a market capitalization of $5.99 million, a price-to-earnings ratio of -0.39 and a beta of 1.28.

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. Socket Mobile had a negative net margin of 107.50% and a negative return on equity of 229.41%. The business had revenue of $3.03 million during the quarter.

Hedge Funds Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC filing. Institutional investors own 3.76% of the company’s stock.

About Socket Mobile

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.