Socket Mobile Inc. (SCKT) – The -152.5% Downside Potential Remains

Socket Mobile Inc. (NASDAQ: SCKT) is 324.37% higher on its value in year-to-date trading and has touched a low of $0.76 and a high of $35.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SCKT stock was last observed hovering at around $9.39 in the last trading session, with the day’s gains setting it 0.71% off its average median price target of $4.00 for the next 12 months. It is also -152.5% off the consensus price target high of $4.00 offered by 1 analysts, but current levels are -152.5% lower than the price target low of $4.00 for the same period.

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Currently trading at $10.10, the stock is 68.79% and 154.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.85 million and changing 7.56% at the moment leaves the stock 350.98% off its SMA200. SCKT registered 523.46% gain for a year compared to 6-month gain of 596.55%. The firm has a 50-day simple moving average (SMA 50) of $4.67 and a 200-day simple moving average (SMA200) of $2.62.

The stock witnessed a 259.43% loss in the last 1 month and extending the period to 3 months gives it a 231.15%, and is -22.61% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 19.56% over the week and 25.99% over the month.

Socket Mobile Inc. (SCKT) has around 56 employees, a market worth around $69.29M and $15.60M in sales. Profit margin for the company is -30.70%. Distance from 52-week low is 1228.95% and -71.14% from its 52-week high. The company has generated returns on investments over the last 12 months (2.60%).

Socket Mobile Inc. (SCKT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Socket Mobile Inc. (SCKT) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Socket Mobile Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $4.19M over the same period.The EPS is expected to grow by 149.30% this year, but quarterly earnings will post -22.70% year-over-year.

Socket Mobile Inc. (SCKT) Top Institutional Holders

10 institutions hold shares in Socket Mobile Inc. (SCKT), with 1.35M shares held by insiders accounting for 22.28% while institutional investors hold 4.18% of the company’s shares. The shares outstanding are 6.04M, and float is at 4.70M with Short Float at 0.91%. Institutions hold 3.25% of the Float.

The top institutional shareholder in the company is Renaissance Technologies, LLC with over 0.11 million shares valued at $0.27 million. The investor’s holdings represent 1.85% of the SCKT Shares outstanding. As of Dec 30, 2020, the second largest holder is Acadian Asset Management with 65623.0 shares valued at $0.16 million to account for 1.08% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 44956.0 shares representing 0.74% and valued at over $0.11 million, while Dimensional Fund Advisors LP holds 0.51% of the shares totaling 30821.0 with a market value of $73353.0.

Socket Mobile Inc. (SCKT) Insider Activity

A total of 33 insider transactions have happened at Socket Mobile Inc. (SCKT) in the last six months, with sales accounting for 4 and purchases happening 29 times. The most recent transaction is an insider sale by DUNLAP DAVID W, the company’s Director. SEC filings show that DUNLAP DAVID W sold 31,500 shares of the company’s common stock on Feb 16 at a price of $10.00 per share for a total of $0.32 million. Following the sale, the insider now owns 8546.0 shares.

Socket Mobile Inc. disclosed in a document filed with the SEC on Feb 16 that OTT LEONARD L (EVP of Engineering and CTO) sold a total of 55,442 shares of the company’s common stock. The trade occurred on Feb 16 and was made at $9.93 per share for $0.55 million. Following the transaction, the insider now directly holds 56323.0 shares of the SCKT stock.

Still, SEC filings show that on Jan 21, OTT LEONARD L (EVP of Engineering & CTO) disposed off 4,940 shares at an average price of $2.88 for $14227.0. The insider now directly holds 16,440 shares of Socket Mobile Inc. (SCKT).

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Socket Mobile Inc. (SCKT): Who are the competitors?

The company’s main competitors (and peers) include Zebra Technologies Corporation (ZBRA) that is trading 133.04% up over the past 12 months. Digi International Inc. (DGII) is 67.79% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.2% from the last report on Dec 30, 2020 to stand at a total of 42060.0 short shares sold with a short interest ratio of 0.18.

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