Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Decrease in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 45,678 shares, a drop of 31.9% from the March 15th total of 67,031 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 22,073 shares, the days-to-cover ratio is presently 2.1 days.

Socket Mobile Stock Down 0.5%

SCKT stock traded down $0.00 during trading on Tuesday, reaching $0.86. 16,210 shares of the company’s stock were exchanged, compared to its average volume of 111,776. Socket Mobile has a 1-year low of $0.82 and a 1-year high of $1.36. The firm has a market cap of $7.04 million, a PE ratio of -0.47 and a beta of 1.14. The company’s fifty day moving average price is $0.96 and its 200-day moving average price is $1.05.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($1.43) earnings per share for the quarter. The company had revenue of $3.96 million for the quarter. Socket Mobile had a negative net margin of 95.36% and a negative return on equity of 106.79%.

Institutional Investors Weigh In On Socket Mobile

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. bought a new position in Socket Mobile, Inc. (NASDAQ:SCKT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned 1.21% of Socket Mobile at the end of the most recent reporting period. Institutional investors and hedge funds own 3.76% of the company’s stock.

Analysts Set New Price Targets

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

Socket Mobile Company Profile

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.