Socket Mobile, Inc. (NASDAQ:SCKT) Sees Significant Drop in Short Interest

Socket Mobile, Inc. (NASDAQ:SCKT) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 6,442 shares, a decline of 30.4% from the December 15th total of 9,253 shares. Based on an average daily trading volume, of 17,727 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 17,727 shares, the days-to-cover ratio is currently 0.4 days.

Socket Mobile Stock Up 3.3%

Shares of NASDAQ:SCKT traded up $0.04 on Monday, hitting $1.12. The company had a trading volume of 29,363 shares, compared to its average volume of 13,441. The firm’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.09. The firm has a market capitalization of $8.94 million, a price-to-earnings ratio of -2.95 and a beta of 1.49. Socket Mobile has a 1 year low of $0.82 and a 1 year high of $1.72.

Socket Mobile (NASDAQ:SCKT) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $3.11 million during the quarter. Socket Mobile had a negative return on equity of 17.40% and a negative net margin of 18.48%.During the same period in the prior year, the firm posted ($0.15) earnings per share.

Insider Buying and Selling

In other news, Director Ivan Lazarev purchased 30,005 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average price of $1.14 per share, with a total value of $34,205.70. Following the transaction, the director directly owned 66,114 shares of the company’s stock, valued at approximately $75,369.96. This represents a 83.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 130,176 shares of company stock worth $152,313. Corporate insiders own 48.10% 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 report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Socket Mobile currently has an average rating of “Sell”.

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.