Socket Mobile (NASDAQ:SCKT) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.94 and traded as low as $0.5410. Socket Mobile shares last traded at $0.5883, with a volume of 119,422 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Socket Mobile in a research note on Friday, April 10th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Socket Mobile Stock Performance

The company’s fifty day moving average price is $0.80 and its 200-day moving average price is $0.94. The stock has a market cap of $4.85 million, a P/E ratio of -0.33 and a beta of 1.27.

Socket Mobile (NASDAQ:SCKT) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.11) earnings per share for the quarter. The firm had revenue of $3.70 million during the quarter. Socket Mobile had a negative return on equity of 142.25% and a negative net margin of 96.43%.

Hedge Funds Weigh In On Socket Mobile

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. acquired a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned about 1.21% of Socket Mobile as of its most recent SEC filing. 3.76% of the stock is owned by institutional investors and hedge funds.

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.