Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.10 and traded as low as $1.0433. Socket Mobile shares last traded at $1.05, with a volume of 3,620 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Socket Mobile Stock Up 1.0%

The firm has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.10. The company has a market cap of $8.38 million, a PE ratio of -2.76 and a beta of 1.43.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $3.11 million during the quarter. Socket Mobile had a negative return on equity of 17.40% and a negative net margin of 18.48%.During the same quarter in the prior year, the firm posted ($0.15) earnings per share.

Insider Transactions at Socket Mobile

In other Socket Mobile news, Director Ivan Lazarev purchased 30,005 shares of Socket Mobile stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $1.14 per share, with a total value of $34,205.70. Following the completion of the transaction, the director owned 66,114 shares in the company, valued at approximately $75,369.96. This trade represents a 83.10% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 130,176 shares of company stock valued at $152,313 over the last 90 days. 48.10% of the stock is currently owned by insiders.

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.