Short Interest in Socket Mobile, Inc. (NASDAQ:SCKT) Rises By 95.8%

Socket Mobile, Inc. (NASDAQ:SCKT) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 9,400 shares, an increase of 95.8% from the February 28th total of 4,800 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,200 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Socket Mobile

An institutional investor recently raised its position in Socket Mobile stock. Renaissance Technologies LLC raised its stake in Socket Mobile, Inc. (NASDAQ:SCKT) by 77.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,200 shares of the company’s stock after buying an additional 19,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.59% of Socket Mobile worth $60,000 at the end of the most recent quarter. 3.76% of the stock is currently owned by hedge funds and other institutional investors.

Socket Mobile Price Performance

NASDAQ SCKT traded down $0.02 during trading hours on Friday, hitting $1.13. 8,225 shares of the company’s stock traded hands, compared to its average volume of 18,599. The company has a market capitalization of $8.59 million, a PE ratio of -5.14 and a beta of 1.03. Socket Mobile has a 52-week low of $0.91 and a 52-week high of $1.72. The firm’s 50-day moving average is $1.29 and its 200-day moving average is $1.29.

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.