Socket Mobile (NASDAQ:SCKT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Socket Mobile, Inc. (NASDAQ:SCKT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.09 and traded as high as $1.13. Socket Mobile shares last traded at $1.09, with a volume of 23,291 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Socket Mobile in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Socket Mobile presently has an average rating of “Sell”.

Socket Mobile Stock Up 0.9%

The stock has a 50-day simple moving average of $1.01 and a 200 day simple moving average of $1.09. The company has a market cap of $8.68 million, a PE ratio of -2.87 and a beta of 1.33.

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. Socket Mobile had a negative net margin of 18.48% and a negative return on equity of 16.97%. The company had revenue of $3.11 million during the quarter. During the same quarter last year, the business earned ($0.15) earnings per share.

Institutional Trading of Socket Mobile

A hedge fund recently raised its stake in Socket Mobile stock. AMH Equity Ltd lifted its position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,398 shares of the company’s stock after purchasing an additional 9,098 shares during the period. AMH Equity Ltd owned about 1.58% of Socket Mobile worth $142,000 at the end of the most recent reporting period. 3.76% of the stock is currently owned by institutional investors.

Socket Mobile Company Profile

Socket Mobile, Inc provides data capture and delivery solutions in the United States, Europe, Asia, and internationally. Its products and solutions are integrated into mobile applications for applications in the areas of point of sale, commercial services, asset tracking, manufacturing and quality control processes, transportation and logistics, event management, medical, and education.