Socket Mobile (NASDAQ:SCKT) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.29 and traded as low as $1.06. Socket Mobile shares last traded at $1.12, with a volume of 12,518 shares changing hands.

Socket Mobile Stock Performance

The company has a market cap of $8.91 million, a PE ratio of -5.09 and a beta of 1.00. The company’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $1.29.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings results on Thursday, April 24th. The company reported ($0.13) EPS for the quarter. Socket Mobile had a negative net margin of 7.46% and a negative return on equity of 7.26%. The business had revenue of $3.97 million during the quarter. During the same period in the previous year, the company earned ($0.07) earnings per share.

Hedge Funds Weigh In On Socket Mobile

An institutional investor recently raised its position in Socket Mobile stock. AMH Equity Ltd lifted its position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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. Hedge funds and other institutional investors own 3.76% of the company’s stock.

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.