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

Socket Mobile, Inc. (NASDAQ:SCKT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.91 and traded as low as $0.5003. Socket Mobile shares last traded at $0.5121, with a volume of 22,869 shares.

Wall Street Analysts Forecast Growth

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

Socket Mobile Stock Down 3.8%

The firm has a market cap of $4.22 million, a price-to-earnings ratio of -0.29 and a beta of 1.27. The firm has a fifty day moving average price of $0.76 and a 200-day moving average price of $0.91.

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

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 filing with the SEC. The institutional investor acquired 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. 3.76% of the stock is currently owned by institutional investors.

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.