Socket Mobile (NASDAQ:SCKT) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Socket Mobile (NASDAQ:SCKT) announced its earnings results on Wednesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12), FiscalAI reports. The business had revenue of $3.39 million for the quarter, compared to the consensus estimate of $4.07 million. Socket Mobile had a negative net margin of 107.50% and a negative return on equity of 229.41%.

Socket Mobile Stock Up 1.0%

SCKT stock traded up $0.00 during midday trading on Wednesday, reaching $0.30. 195,213 shares of the company’s stock traded hands, compared to its average volume of 2,981,394. The company has a market cap of $2.49 million, a price-to-earnings ratio of -0.16 and a beta of 1.46. The firm’s fifty day moving average price is $0.54 and its 200-day moving average price is $0.79. Socket Mobile has a 52 week low of $0.28 and a 52 week high of $2.79.

Analyst Ratings Changes

Separately, Weiss Ratings cut Socket Mobile from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.