Socket Mobile (NASDAQ:SCKT) Shares Cross Above 50 Day Moving Average of $1.08

Socket Mobile, Inc. (NASDAQ:SCKT)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.08 and traded as high as $1.24. Socket Mobile shares last traded at $1.23, with a volume of 47,495 shares changing hands.

Socket Mobile Trading Up 2.5 %

The stock has a 50-day moving average of $1.08 and a 200-day moving average of $1.29. The firm has a market cap of $9.00 million, a price-to-earnings ratio of -4.39 and a beta of 0.88.

Socket Mobile (NASDAQ:SCKT) last announced its quarterly earnings results on Friday, October 27th. The company reported ($0.16) earnings per share (EPS) for the quarter. Socket Mobile had a negative return on equity of 11.95% and a negative net margin of 13.01%. The business had revenue of $3.21 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Socket Mobile stock. Morgan Stanley grew its holdings in shares of Socket Mobile, Inc. (NASDAQ:SCKT) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,463 shares of the company’s stock after acquiring an additional 6,253 shares during the quarter. Morgan Stanley owned about 0.83% of Socket Mobile worth $115,000 as of its most recent SEC filing. 5.92% of the stock is owned by hedge funds and other institutional investors.

About Socket Mobile

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.