Socket Mobile (NASDAQ:SCKT) stock observed trading -31.79% off 52-week high price. On the other end, the stock has been noted 41.48% away from low price over the last 52-weeks. The stock disclosed a move of -17.47% away from 50 day moving average and -13.87% away from 200 day moving average. Moving closer, we can see that shares have been trading -15.47% off 20-day moving average. It has market cap of $11.5M .
On Oct. 24, 2019, Socket Mobile (NASDAQ:SCKT) a leading innovator of data capture and delivery solutions for enhanced productivity, reported financial results for its 2019 third quarter and nine months ended September 30, 2019.
Revenue for the third quarter of 2019 was $5.0 million, an increase of 20 percent compared to revenue of $4.1 million for the same quarter a year ago. Cordless barcode scanner revenue was $4.8 million for the third quarter of 2019, an increase of 17 percent over the same quarter a year ago. Net income for the third quarter of 2019 was $94,000 or $0.01 per share, compared to a net loss of $45,000 or $0.01 per share a year ago.
Gross profit margins for the third quarter of 2019 were 52.9 percent, compared to margins of 52.6 percent for the third quarter a year ago.
Operating expenses for the third quarter of 2019 were $2.5 million compared to operating expenses of $2.2 million for the same quarter a year ago, representing an increase in operating expenses of 14 percent.
For the nine months ended September 30, 2019, revenue was $14.7 million, an increase of 19 percent compared to revenue of $12.3 million for the same period a year ago. Net income for the nine months ended September 30, 2019 was $0.2 million or $0.04 per share compared to a net loss of $0.4 million or $0.07 per share in the year ago period.
Gross profit margins for the nine months ended September 30, 2019 were 52.3 percent, compared to 51.8 percent for the same period in 2018. Operating expenses for the nine months ended September 30, 2019 were $7.3 million, an increase of 6 percent compared to operating expenses of $6.8 million in the same period a year ago.
The USA based company Socket Mobile moved with change of -14.92% to $1.91 with the total traded volume of 76146 shares in recent session versus to an average volume of 11.45K. The stock was observed in the 5 days activity at -15.11%. The one month performance of stock was -19.37%. SCKT’s shares are at -27.92% for the quarter and driving a -9.48% return over the course of the past year and is now at 27.33% since this point in 2018. Right now the stock beta is 0.65. The average volatility for the week and month was at 5.63% and 4.55% respectively. There are 6.02M shares outstanding and 4.75M shares are floated in market.
Nathaniel worked as a reporter for an online news publication in China for two years, covering general city news; he also used to work for an international travel agency before pursuing a career in journalism. In his free time, Nathaniel enjoys outdoor recreation, following sports of all kinds. Nathaniel Schultz reports about Business category. Before joining Marketsnip.com, he worked as a news reporter for other publications, covering technology and health reporting. He earned his Master’s at School of Journalism, where he worked as a news reporter besides learning pertinent skills in magazine editing and interactive production.
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