Socket Mobile (NASDAQ:SCKT) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.02 and traded as low as $0.8505. Socket Mobile shares last traded at $0.86, with a volume of 137,857 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Socket Mobile in a research report on Friday, April 10th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Socket Mobile Trading Down 1.7%

The firm’s 50-day moving average price is $0.89 and its 200 day moving average price is $1.02. The company has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.48 and a beta of 1.21.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $3.70 million for the quarter. Socket Mobile had a negative net margin of 96.43% and a negative return on equity of 142.25%.

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. MV Capital Management Inc. purchased a new stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned about 1.21% of Socket Mobile at the end of the most recent quarter. Institutional investors and hedge funds own 3.76% of the company’s stock.

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.