Socket Mobile Inc. [SCKT] Revenue clocked in at $15.60 million, up 289.50% YTD: What’s Next?

Socket Mobile Inc. [NASDAQ: SCKT] gained 21.49% or 1.64 points to close at $9.27 with a heavy trading volume of 4374369 shares. The company report on March 1, 2021 that Socket Mobile and SpringCard SAS announce licensing agreement to enable improved Contactless Customer Experiences.

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Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce it has licensed SpringCard SAS core contactless technology. SpringCard SAS is a market leader at the forefront of innovative electronic design and development. Its contactless and wireless solutions support a wide range of customers, from large international corporations to locally-focused companies.

Socket Mobile and SpringCard SAS have worked together to bring contactless reading products to market. The DuraScan D600 Contactless Reader/Writer and SocketScan S550 Contactless Reader/Writer include SpringCard’s core contactless technology, and the SocketScan S550 is Apple Value Added Services (VAS) and Google Wallet certified. Under the new agreement, Socket Mobile will acquire a perpetual, royalty-free license to the core technology for use in its products and be in a position to support new requirements in the future.

It opened the trading session at $8.72, the shares rose to $11.75 and dropped to $8.36, the range by which the price of stock traded the whole day. The daily chart for SCKT points out that the company has recorded 641.60% gains over the past six months. However, it is still -1119.74% lower than its most recent low trading price.

If we look at the average trading volume of 5.20M shares, SCKT reached to a volume of 4374369 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Socket Mobile Inc. [SCKT]:

The Average True Range (ATR) for Socket Mobile Inc. is set at 2.65, with the Price to Sales ratio for SCKT stock in the period of the last 12 months amounting to 3.82. The Price to Book ratio for the last quarter was 6.35, with the Price to Cash per share for the same quarter was set at 0.28. Price to Free Cash Flow for SCKT in the course of the last twelve months was 198.69 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for SCKT stock

Socket Mobile Inc. [SCKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.22. With this latest performance, SCKT shares gained by 229.89% in over the last four-week period, additionally plugging by 641.60% over the last 6 months – not to mention a rise of 505.88% 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 53.63, with the RSI for the last a single of trading hit 51.74, and the three-weeks RSI is set at 54.84 for Socket Mobile Inc. [SCKT]. The present Moving Average for the last 50 days of trading for this stock 5.37, while it was recorded at 8.54 for the last single week of trading, and 2.67 for the last 200 days.

Socket Mobile Inc. [SCKT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Socket Mobile Inc. [SCKT] shares currently have an operating margin of +0.48 and a Gross Margin at +53.09. Socket Mobile Inc.’s Net Margin is presently recorded at -20.89.

Return on Total Capital for SCKT is now 0.53, given the latest momentum, and Return on Invested Capital for the company is -24.51. Return on Equity for this stock declined to -27.49, with Return on Assets sitting at -18.91. When it comes to the capital structure of this company, Socket Mobile Inc. [SCKT] has a Total Debt to Total Equity ratio set at 20.55. Additionally, SCKT Total Debt to Total Capital is recorded at 17.05, with Total Debt to Total Assets ending up at 14.50. Long-Term Debt to Equity for the company is recorded at 20.55, with the Long-Term Debt to Total Capital now at 17.05.

Receivables Turnover for the company is 6.34 with a Total Asset Turnover recorded at a value of 0.91.Socket Mobile Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.40.

An analysis of insider ownership at Socket Mobile Inc. [SCKT]

There are presently around $3 million, or 5.80% of SCKT stock, in the hands of institutional investors. The top three institutional holders of SCKT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 112,600, which is approximately 56.003% of the company’s market cap and around 5.30% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 65,623 shares of the stock with an approximate value of $0.5 million in SCKT stocks shares; and VANGUARD GROUP INC, currently with $0.34 million in SCKT stock with ownership of nearly 62.896% of the company’s market capitalization.

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Positions in Socket Mobile Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 9 institutional holders increased their position in Socket Mobile Inc. [NASDAQ:SCKT] by around 198,062 shares. Additionally, 3 investors decreased positions by around 43,790 shares, while 2 investors held positions by with 109,210 shares. The mentioned changes placed institutional holdings at 351,062 shares, according to the latest SEC report filing. SCKT stock had 5 new institutional investments in for a total of 100,576 shares, while 2 institutional investors sold positions of 11,432 shares during the same period.

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