Socket Mobile (NASDAQ:SCKT) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of 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 $0.85 and traded as low as $0.3860. Socket Mobile shares last traded at $0.39, with a volume of 71,834 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Socket Mobile currently has an average rating of “Sell”.

Socket Mobile Stock Performance

The stock has a fifty day moving average price of $0.63 and a 200-day moving average price of $0.85. The firm has a market capitalization of $3.18 million, a PE ratio of -0.21 and a beta of 1.28.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.16) earnings per share for the quarter. Socket Mobile had a negative return on equity of 189.51% and a negative net margin of 107.50%.The company had revenue of $3.03 million for the quarter.

Institutional Trading of Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. acquired a new position in Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 currently 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.