Stock News in Focus: Socket Mobile (NASDAQ:SCKT)

Socket Mobile (NASDAQ:SCKT) stock observed trading -39.64% off 52-week high price. On the other end, the stock has been noted 8.38% away from low price over the last 52-weeks. The stock disclosed a move of 1.40% away from 50 day moving average and -19.96% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.40% off 20-day moving average. It has market cap of $10.06M.

On Feb. 12, 2020, Socket Mobile (NASDAQ:SCKT) a leading innovator of data capture and delivery solutions for enhanced productivity, revealed financial results for the fourth quarter and year ended December 31, 2019.

Revenue for 2019 was $19.3 million, an increase of 17 percent versus 2018 revenue of $16.5 million. Gross margins in 2019 were $10.1 million, or 52.5 percent of revenue, up from $8.5 million, or 51.4 percent of revenue in 2018. Operating expenses were $9.5 million for 2019 and $9.0 million in 2018. Operating results in 2019 were a net income before tax of $0.5 million compared to a net loss before tax of $0.7 million in 2018. The Company’s net income in 2019 was $0.3 million or $0.05 per share compared to a net loss of $0.6 million or $0.09 per share in 2018.

The Company’s balance sheet at December 31, 2019 included cash of $1.0 million compared to cash of $1.1 million at December 31, 2018. The current ratio (current assets divided by current liabilities) was 1.38 at December 31, 2019 compared to a current ratio of 1.32 at December 31, 2018. Shareholders’ equity at December 31, 2019 was $13.2 million compared to shareholders’ equity at December 31, 2018 of $12.4 million.

Revenue for the fourth quarter of 2019 was $4.6 million, with gross margins of 53.1 percent, operating expenses of $2.2 million, and net income before income taxes of $0.2 million. Revenue in the fourth quarter of 2018 was $4.1 million with gross margins of 50.3%, operating expenses of $2.2 million and net loss before income taxes of $0.2 million. Net income for the fourth quarter of 2019 was $0.1 million or $0.01 per share compared to a net loss for the fourth quarter of 2018 of $0.2 million or $0.03 per share.

The USA based company Socket Mobile moved with change of 0.82% to $1.69 with the total traded volume of 134236 shares in recent session versus to an average volume of 12.87K. The stock was observed in the 5 days activity at 1.91%. The one month performance of stock was -3.98%. SCKT’s shares are at -2.87% for the quarter and driving a -11.05% return over the course of the past year and is now at 4.97% since this point in 2018.  Right now the stock beta is 0.83. The average volatility for the week and month was at 5.25% and 2.89% respectively. There are 5.95M shares outstanding and 4.75M shares are floated in market.

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