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

Socket Mobile, Inc. (NASDAQ:SCKT) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 22,600 shares, a decrease of 55.2% from the March 15th total of 50,400 shares. Based on an average trading volume of 18,600 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the company’s stock are short sold.

Socket Mobile Trading Down 1.9 %

NASDAQ SCKT traded down $0.02 on Thursday, hitting $1.05. 10,246 shares of the company were exchanged, compared to its average volume of 18,021. The company has a market cap of $7.93 million, a PE ratio of -4.13 and a beta of 0.82. Socket Mobile has a 12 month low of $0.90 and a 12 month high of $1.87. The stock has a fifty day moving average of $1.06 and a 200-day moving average of $1.11.

Socket Mobile (NASDAQ:SCKT) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.08 earnings per share for the quarter. Socket Mobile had a negative net margin of 11.27% and a negative return on equity of 10.02%. The firm had revenue of $4.40 million for the quarter.

Institutional Trading of Socket Mobile

A hedge fund recently raised its stake in Socket Mobile stock. Morgan Stanley increased its stake in shares of Socket Mobile, Inc. (NASDAQ:SCKT) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,463 shares of the company’s stock after buying an additional 6,253 shares during the period. Morgan Stanley owned about 0.83% of Socket Mobile worth $115,000 as of its most recent SEC filing. Institutional investors and hedge funds own 3.76% of the company’s stock.

Socket Mobile Company Profile

Socket Mobile, Inc provides data capture and delivery solutions in the United States, Europe, Asia, and internationally. The company's products are used in mobile applications in the areas of point of sale, commercial services, asset tracking, manufacturing process and quality control, transportation and logistics, event management, medical, and education.