Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Declines By 45.3%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 143,975 shares, a decrease of 45.3% from the August 15th total of 263,300 shares. Based on an average daily trading volume, of 579,044 shares, the short-interest ratio is currently 0.2 days. Approximately 3.8% of the company’s stock are sold short.

Socket Mobile Price Performance

Shares of SCKT stock traded up $0.01 during trading hours on Wednesday, reaching $0.50. The company had a trading volume of 72,681 shares, compared to its average volume of 264,201. Socket Mobile has a 12 month low of $0.38 and a 12 month high of $2.79. The business has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.78. The company has a market cap of $4.14 million, a price-to-earnings ratio of -0.27 and a beta of 1.36.

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 for the quarter. Socket Mobile had a negative return on equity of 229.41% and a negative net margin of 107.50%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Socket Mobile from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of 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 fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period. Institutional investors own 3.76% of the company’s stock.

About Socket Mobile

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.