Socket Mobile (NASDAQ:SCKT) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Socket Mobile, Inc. (NASDAQ:SCKT) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.07 and traded as high as $1.07. Socket Mobile shares last traded at $0.9645, with a volume of 1,000,232 shares trading hands.

Analysts Set New Price Targets

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

Socket Mobile Trading Down 1.4%

The stock has a 50 day moving average of $1.07 and a 200-day moving average of $1.08. The company has a market capitalization of $7.70 million, a P/E ratio of -0.53 and a beta of 1.13.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Socket Mobile stock. MV Capital Management Inc. bought a new position in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 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 SEC. 3.76% of the stock is currently owned by institutional investors.

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.