Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Increases By 95.9%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 62,508 shares, a growth of 95.9% from the May 14th total of 31,908 shares. Based on an average daily volume of 178,904 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Socket Mobile in a report on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Socket Mobile currently has a consensus rating of “Sell”.

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 stake in Socket Mobile, Inc. (NASDAQ:SCKT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 96,917 shares of the company’s stock, valued at approximately $99,000. MV Capital Management Inc. owned 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 Stock Down 2.8%

Shares of Socket Mobile stock traded down $0.03 during trading on Monday, reaching $0.88. The company’s stock had a trading volume of 178,508 shares, compared to its average volume of 119,096. Socket Mobile has a 52-week low of $0.81 and a 52-week high of $1.36. The company has a market cap of $7.28 million, a price-to-earnings ratio of -0.49 and a beta of 1.21. The firm’s 50-day moving average is $0.89 and its two-hundred day moving average is $1.00.

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

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.