Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Update

Socket Mobile, Inc. (NASDAQ:SCKT) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 263,300 shares, a growth of 389.8% from the July 30th total of 53,754 shares. Currently, 7.0% of the shares of the company are short sold. Based on an average daily trading volume, of 26,079,433 shares, the days-to-cover ratio is presently 0.0 days.

Socket Mobile Stock Down 7.1%

Shares of SCKT traded down $0.06 during trading hours on Thursday, reaching $0.72. 267,808 shares of the company traded hands, compared to its average volume of 13,703,974. Socket Mobile has a fifty-two week low of $0.38 and a fifty-two week high of $2.79. The stock has a market capitalization of $5.99 million, a PE ratio of -0.39 and a beta of 1.28. The stock has a fifty day simple moving average of $0.66 and a 200 day simple moving average of $0.83.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.16) EPS for the quarter. Socket Mobile had a negative net margin of 107.50% and a negative return on equity of 229.41%. The business had revenue of $3.03 million during the quarter.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period. Institutional investors own 3.76% of the company’s stock.

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.