Socket Mobile, Inc. (NASDAQ:SCKT) Sees Large Growth in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a large growth in short interest during 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 stock are short sold. Based on an average daily trading volume, of 26,079,433 shares, the short-interest ratio is presently 0.0 days.

Socket Mobile Stock Up 0.7%

Shares of NASDAQ:SCKT traded up $0.00 during midday trading on Friday, hitting $0.73. 43,818 shares of the stock traded hands, compared to its average volume of 1,774,298. Socket Mobile has a one year low of $0.38 and a one year high of $2.79. The business’s 50 day moving average is $0.66 and its two-hundred day moving average is $0.83. The stock has a market capitalization of $6.03 million, a PE ratio of -0.39 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. The business had revenue of $3.03 million during the quarter. Socket Mobile had a negative return on equity of 229.41% and a negative net margin of 107.50%.

Institutional Trading of Socket Mobile

An institutional investor recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. purchased a new position in Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned approximately 1.21% of Socket Mobile as of its most recent SEC filing. 3.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.