HomeTop MoversWhy Socket Mobile Inc. (SCKT) stock price faced negativity in the pre-market?

Why Socket Mobile Inc. (SCKT) stock price faced negativity in the pre-market?

Socket Mobile Inc. (SCKT) shares declined 10.18% in pre-hours to $7.50 per share. On Friday, SCKT’s stock gained 43.97% to close Friday’s morning session at $8.35. The stock volume remained 52.35 million shares, which was higher than the average daily volume of 1.24 million shares within the past 50 days. SCKT stock shares have risen by 471.92% over the last 12 months, and they have moved up by 48.58% in the past week. Over the past three months, the stock has gained 23.34%, while over the past six months, it has shed 185.96%.

Let’s see is there any recent news about its mix performance on Friday?


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SCKT stock Financial results announcement

On July 22, 2021, Socket Mobile, Inc (SCKT) released its financial results for the three and six months ended June 30, 2021.

SCKT stock Q2 2021 financial highlights

  • Socket Mobile reported revenue of $6.0 millioninQ2 2021 compared with $2.7 million for the same period in 2020.
  • The gross margin was 55% in Q2 2021 compared with 50% in Q2 2020.
  • Operating income was $814,000inQ2 2021 compared to an operating loss of $810,000 in Q2 2020.
  • In Q2 2021, operating expenses were $2.4 million compared to 2.2 million for the same quarter in 2020.
  • SCKT stock earned a net income of $2.6 million in Q2 2021 compared to $0.768 million in Q2 2020.

SCKT Built-In compatibility with EU Digital COVID Certificates

On June 2, 2021, Socket Mobile, Inc announced that its entire family of barcode scanners offer out-of-the-box support for applications designed to facilitate EU Digital COVID Certificates.

The Certificate will facilitate travel within EU borders by providing information such as vaccination, test, and recovery status via a digitally signed QR code.

New appointment

On May 18, 2021, Socket Mobile, Inc appointed Dave Holmes as Chief Business Officer.

Dave has more than 20 years of experience and have wealth of knowledge and experience that will enable Socket Mobile to navigate the complexity of the ecosystems and become a key player in these emerging markets.

SCKT Stock Q1 2021 financial results announcement

On April 22, 2021, Socket Mobile, Inc released its financial results for the first quarter of 2021.

Q1 2021 financial highlights

  • Socket Mobile generated a revenue of $4.8 million in Q1 2021 compared to $4.2 million in the first quarter of 2020.
  • Operating expenses were $2.3 million in Q1 2021 which were the same in Q1 2020.
  • The company reported a net income of $203,000, or $0.03per basic and fully diluted share in Q1 2021, compared to a net loss of ($90,000), or ($0.01) per basic and fully diluted share, in the first quarter of 2020.
  • As of March 31, 2021 company had a cash amount of $5.0 million.

Conclusion

Due to the recent financial results announcement, SCKT stock surged in the morning session but later it declined in the after-hours but still, SCKT surged significantly in the last two trading days.

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