Socket Mobile, Inc. (NASDAQ:SCKT) Short Interest Up 1,389.6% in March

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 67,031 shares, a growth of 1,389.6% from the February 26th total of 4,500 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 557,297 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 557,297 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.5% of the shares of the company are sold short.

Socket Mobile Price Performance

NASDAQ SCKT traded up $0.00 during trading hours on Tuesday, reaching $0.90. The company’s stock had a trading volume of 52,408 shares, compared to its average volume of 118,800. The firm has a market capitalization of $7.18 million, a price-to-earnings ratio of -0.50 and a beta of 1.13. The company’s 50-day moving average is $1.05 and its two-hundred day moving average is $1.07. Socket Mobile has a 1-year low of $0.82 and a 1-year high of $1.36.

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

Institutional Investors Weigh In On Socket Mobile

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock 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.