Socket Mobile Inc. [SCKT] Stock trading around $1.46 per share: What’s Next?

Socket Mobile Inc. [NASDAQ: SCKT] stock went on a downward path that fall over -2.67% on Thursday, amounting to a one-week price increase of more than 5.04%. The company report on October 23, 2020 that Socket Mobile Reports Third Quarter Results.

Socket Mobile, Inc. (NASDAQ: SCKT), a leading innovator of data capture and delivery solutions for enhanced productivity, today reported third quarter 2020 results.

Socket Mobile and its auditors did not complete the annual review process related to goodwill impairment, which is part of the quarter-end closing procedures, in time to include in this release. The review takes longer than usual due to uncertainties and complications associated with the impact of the COVID-19 pandemic. The results that are being released today assume there is no goodwill impairment. All numbers that would be negatively impacted by an adjustment to goodwill are asterisked. The results will be reported as soon as the goodwill review is completed or in the Form 10-Q for Q3. .

Over the last 12 months, SCKT stock dropped by -35.40%.

The market cap for the stock reached $8.86 million, with 6.01 million shares outstanding and 4.70 million shares in the current float. Compared to the average trading volume of 1.81M shares, SCKT stock reached a trading volume of 2667894 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Socket Mobile Inc. [SCKT]:

The Average True Range (ATR) for Socket Mobile Inc. is set at 0.13, with the Price to Sales ratio for SCKT stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 0.15. Price to Free Cash Flow for SCKT in the course of the last twelve months was 14.77 with Quick ratio for the last quarter at 0.70.

SCKT Stock Performance Analysis:

Socket Mobile Inc. [SCKT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.04. With this latest performance, SCKT shares gained by 24.79% in over the last four-week period, additionally plugging by 19.67% over the last 6 months – not to mention a drop of -35.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SCKT stock in for the last two-week period is set at 63.96, with the RSI for the last a single of trading hit 68.63, and the three-weeks RSI is set at 57.57 for Socket Mobile Inc. [SCKT]. The present Moving Average for the last 50 days of trading for this stock 1.3540, while it was recorded at 1.4312 for the last single week of trading, and 1.3988 for the last 200 days.

Insight into Socket Mobile Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Socket Mobile Inc. [SCKT] shares currently have an operating margin of +3.15 and a Gross Margin at +52.46. Socket Mobile Inc.’s Net Margin is presently recorded at +1.49.

Return on Total Capital for SCKT is now 3.95, given the latest momentum, and Return on Invested Capital for the company is 2.15. Return on Equity for this stock inclined to 2.24, with Return on Assets sitting at 1.54. When it comes to the capital structure of this company, Socket Mobile Inc. [SCKT] has a Total Debt to Total Equity ratio set at 21.83. Additionally, SCKT Total Debt to Total Capital is recorded at 17.92, with Total Debt to Total Assets ending up at 14.72. Long-Term Debt to Equity for the company is recorded at 5.40, with the Long-Term Debt to Total Capital now at 4.44.

Reflecting on the efficiency of the workforce at the company, Socket Mobile Inc. [SCKT] managed to generate an average of $5,118 per employee. Receivables Turnover for the company is 7.40 with a Total Asset Turnover recorded at a value of 1.04.Socket Mobile Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.50.

Socket Mobile Inc. [SCKT] Insider Position Details

There are presently around $1 million, or 7.50% of SCKT stock, in the hands of institutional investors. The top three institutional holders of SCKT stocks are: MANATUCK HILL PARTNERS, LLC with ownership of 306,430, which is approximately 0% of the company’s market cap and around 4.20% of the total institutional ownership; CSS LLC/IL, holding 55,858 shares of the stock with an approximate value of $82000.0 in SCKT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $80000.0 in SCKT stock with ownership of nearly 1.475% of the company’s market capitalization.

Positions in Socket Mobile Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 4 institutional holders increased their position in Socket Mobile Inc. [NASDAQ:SCKT] by around 1,067 shares. Additionally, 2 investors decreased positions by around 13,929 shares, while 5 investors held positions by with 434,236 shares. The mentioned changes placed institutional holdings at 449,232 shares, according to the latest SEC report filing. SCKT stock had 1 new institutional investments in for a total of 23 shares, while 2 institutional investors sold positions of 13,929 shares during the same period.

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