Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Down 50.7% in February

Socket Mobile, Inc. (NASDAQ:SCKT) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 6,389 shares, a decrease of 50.7% from the January 29th total of 12,960 shares. Based on an average daily volume of 10,151 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 10,151 shares, the days-to-cover ratio is currently 0.6 days.

Socket Mobile Price Performance

Shares of SCKT remained flat at $0.90 during midday trading on Friday. The stock had a trading volume of 32,959 shares, compared to its average volume of 23,559. Socket Mobile has a twelve month low of $0.82 and a twelve month high of $1.36. The stock has a market cap of $7.14 million, a P/E ratio of -0.49 and a beta of 1.13. The firm has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.08.

Socket Mobile (NASDAQ:SCKT) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($1.43) earnings per share for the quarter. Socket Mobile had a negative return on equity of 87.01% and a negative net margin of 95.36%.The business had revenue of $3.96 million for the quarter.

Hedge Funds Weigh In On Socket Mobile

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.