Socket Mobile (NASDAQ:SCKT) stock is on the rise Thursday after posting a positive earnings report for the company’s fourth quarter of 2020 after-hours Wednesday.
That report saw it bring in earnings per share of 23 cents on revenue of $4.7 million. This was good for the company as its EPS was better than the 1 cent reported during the same time last year. Its revenue also came in above analysts’ estimates of $4.19 billion.
The positive earnings report has investors taking a stronger interest in SCKT stock today. As of this writing, more than 19 million shares have changed hands. That’s quite the jump from its daily average trading volume of 4.6 million shares.
Keeping all of this in mind, here’s what potential investors in SCKT stock need to know about the company.
- Socket Mobile is a company that manufactures and sells scanning devices for retailers.
- That includes barcode scanners, as well as contactless card readers and writers.
- This has it focusing on Bluetooth mobile and desktop scanning with its devices.
- It works with many major companies in the retail and tech space.
- The company’s app partners include Square (NYSE:SQ), Shopify (NYSE:SHOP), and others.
- Its corporate partners include Alphabet’s (NASDAQ:GOOGL,GOOG) Google, Apple (NASDAQ:AAPL), and others.
- Socket Mobile was founded in 1992 and operates out of its headquarters in Newark, Calif.
- It joined the public market in 1995 when it started trading on the Nasdaq Exchange.
SCKT stock was up 43.7% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.