Socket Mobile, Inc. (NASDAQ:SCKT) Stock Short Interest Climbs 468.1%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 258,725 shares, a growth of 468.1% from the September 30th total of 45,540 shares. Currently, 6.9% of the shares of the stock are short sold. Based on an average trading volume of 28,997,934 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Socket Mobile Trading Down 33.8%

Shares of SCKT stock traded down $0.17 during mid-day trading on Wednesday, reaching $0.34. The stock had a trading volume of 411,251 shares, compared to its average volume of 3,046,916. The stock’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $0.80. Socket Mobile has a 52-week low of $0.33 and a 52-week high of $2.79. The firm has a market capitalization of $2.84 million, a PE ratio of -0.18 and a beta of 1.40.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $3.03 million during the quarter.

Socket Mobile Company Profile

Socket Mobile, Inc develops and sells data capture solutions designed to help businesses collect and transmit information using mobile devices. Its products include cordless barcode scanners, contactless and NFC readers, and related accessories used with smartphones, tablets, computers, and point-of-sale systems.

The company also provides software development tools and integration services, including its CaptureSDK and SocketCam solutions, which enable developers and business applications to incorporate barcode scanning and other data capture capabilities.