Socket Mobile, Inc. (Nasdaq:SCKT)
November 7th, 2018
With markets going up Socket Mobile, Inc. closed Wednesday up 12.26%, a $0.23 increase to close on $2.10. Socket Mobile, Inc. swung 18.89% between high and low. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be -1.56.
SCKT outperformed the rest of the Information Technology sector which went up 2.88% today.
Wednesday saw an upward swing in all sectors of the market with Consumer Discretionary leading the pack with a 3.12% increase. Healthcare has seen the biggest year-to-date gain at 13%. The biggest loss this year has been the Communication Services sector declining 7.75%.
- Consumer Discretionary went up with a 3.12% change.
- Healthcare went up with a 2.94% change.
- Information Technology went up with a 2.88% change.
- Communication Services went up with a 1.93% change.
- Materials went up with a 1.90% change.
- Industrials went up with a 1.68% change.
- Energy went up with a 1.61% change.
- Financials went up with a 1.34% change.
- Real Estate went up with a 1.14% change.
- Utilities went up with a 1.08% change.
- Consumer Staples went up with a 0.56% change.
Socket Mobile, Inc. Info
Socket Mobile, Inc. produces data capture products for mobile applications used in business mobility markets in the United States, Europe, Asia, and internationally. The company’s products are incorporated into mobile applications used in mobile point of sale, enterprise mobility, asset tracking, control systems, logistics, event management, medical, and education. It provides cordless data capture devices that connect over Bluetooth and work with applications running on smartphones, mobile computers, and tablets; and software developer kits to mobile application developers to enable them to integrate its products into their applications. The company offers barcode scanning products for 1D imager and laser, and 2D barcode scanning in standard and durable cases. It is also developing D600, a contactless SmartTag reader writer version of its durable handheld barcode scanner that reads and writes various types of electronic SmartTags, including near field communications. In addition, the company offers SocketCare services program, which provides extended warranty and accidental breakage coverage for various products. It markets its products through a network of distributors and on-line resellers, application developers, and value added resellers. The company was formerly known as Socket Communications, Inc. and changed its name to Socket Mobile, Inc. in April 2008. Socket Mobile, Inc. was founded in 1992 and is headquartered in Newark, California.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Socket Mobile, Inc.’s score is -1.56) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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