Socket Mobile (NASDAQ:SCKT) Share Price Passes Below 200-Day Moving Average – Here’s Why

Socket Mobile, Inc. (NASDAQ:SCKT)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.29 and traded as low as $1.15. Socket Mobile shares last traded at $1.20, with a volume of 14,944 shares changing hands.

Socket Mobile Price Performance

The business has a fifty day simple moving average of $1.32 and a 200 day simple moving average of $1.29. The firm has a market cap of $9.13 million, a price-to-earnings ratio of -5.45 and a beta of 1.03.

Hedge Funds Weigh In On Socket Mobile

An institutional investor recently bought a new position in Socket Mobile stock. AMH Equity Ltd purchased a new stake in Socket Mobile, Inc. (NASDAQ:SCKT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 116,300 shares of the company’s stock, valued at approximately $155,000. AMH Equity Ltd owned about 1.53% of Socket Mobile as of its most recent filing with the Securities and Exchange Commission (SEC). 3.76% of the stock is currently owned by institutional investors and hedge funds.

About Socket Mobile

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.