Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Decreases By 55.2%

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

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. Susquehanna International Group LLP bought a new position in shares of Socket Mobile, Inc. (NASDAQ:SCKT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,408 shares of the company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned about 0.29% of Socket Mobile as of its most recent SEC filing. Institutional investors own 3.76% of the company’s stock.

Socket Mobile Stock Performance

Shares of SCKT traded up $0.03 during midday trading on Friday, hitting $1.08. The company had a trading volume of 4,520 shares, compared to its average volume of 11,399. The company’s 50-day simple moving average is $1.05 and its 200-day simple moving average is $1.11. The firm has a market capitalization of $8.15 million, a P/E ratio of -4.15 and a beta of 0.82. Socket Mobile has a 1 year low of $0.90 and a 1 year high of $1.85.

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

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.