Socket Mobile (NASDAQ:SCKT) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.09 and traded as low as $1.07. Socket Mobile shares last traded at $1.09, with a volume of 23,291 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Socket Mobile currently has a consensus rating of “Sell”.

Socket Mobile Stock Performance

The business’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.09. The stock has a market cap of $8.68 million, a price-to-earnings ratio of -2.87 and a beta of 1.33.

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

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently raised its position in Socket Mobile stock. AMH Equity Ltd increased its position in Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% in the first quarter, according to its most recent disclosure with the SEC. 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 1.58% of Socket Mobile worth $142,000 at the end of the most recent reporting period. 3.76% of the stock is currently owned by institutional investors.

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.