On November 5, 2023, Ivan Lazarev, a director at Socket Mobile, Inc. (NASDAQ:SCKT), purchased 10,067 shares of the company’s stock in a transaction valued at $10,369.01. The shares were acquired at an average price of $1.03 per share, significantly increasing Lazarev’s stake in the company by 46.73%. Following this acquisition, his total holdings in Socket Mobile amounted to 31,609 shares, worth approximately $32,557.27.
The transaction was officially reported in a filing with the U.S. Securities and Exchange Commission (SEC), which can be accessed via the SEC’s website. This purchase highlights the director’s confidence in the company’s future prospects.
Current Stock Performance and Market Overview
On the same day, shares of Socket Mobile traded at $1.28, reflecting a modest increase of $0.07. The trading volume reached 36,913 shares, surpassing the average volume of 17,334 shares. Over the past year, Socket Mobile’s stock has experienced a low of $0.82 and a high of $1.72. The company currently holds a market capitalization of $10.17 million, with a price-to-earnings (PE) ratio of -3.36 and a beta of 1.32. The stock’s 50-day moving average stands at $1.04, while the 200-day moving average is $1.09.
Analysts have expressed caution regarding the stock’s performance. On October 8, 2023, Weiss Ratings reaffirmed a “sell (D-)” rating for Socket Mobile shares in a research report. Currently, one investment analyst has assigned a “Sell” rating to the stock, leading to a consensus rating of “Sell,” according to data from MarketBeat.com.
Company Overview
Socket Mobile, Inc. specializes in providing data capture and delivery solutions across various sectors, including point of sale, asset tracking, and logistics. The company operates internationally, serving markets in the United States, Europe, and Asia. Its products are integrated into mobile applications for diverse applications such as event management, medical services, and educational purposes.
As Socket Mobile continues to navigate market challenges, the recent stock acquisition by Ivan Lazarev may signal a commitment to the company’s growth and stability. Investors and analysts alike will be monitoring the firm’s performance closely in the coming months.
