Franklin Wireless (NASDAQ:FKWL) Trading Down 3.5% – What’s Next?

Shares of Franklin Wireless Corp. (NASDAQ:FKWL) traded down 3.5% during trading on Thursday . The company traded as low as $6.43 and last traded at $6.70. 56,847 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 46,662 shares. The stock had previously closed at $6.94.

Franklin Wireless Trading Down 3.5 %

The stock has a market capitalization of $78.93 million, a P/E ratio of -35.26 and a beta of 0.18. The company has a fifty day simple moving average of $5.05 and a two-hundred day simple moving average of $4.52.

Franklin Wireless (NASDAQ:FKWL) last posted its quarterly earnings results on Friday, February 14th. The company reported $0.02 earnings per share for the quarter. Franklin Wireless had a negative net margin of 5.06% and a negative return on equity of 5.89%. The business had revenue of $17.83 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FKWL. Geode Capital Management LLC grew its stake in shares of Franklin Wireless by 39.1% during the third quarter. Geode Capital Management LLC now owns 99,859 shares of the company’s stock worth $457,000 after purchasing an additional 28,052 shares during the period. Renaissance Technologies LLC boosted its holdings in Franklin Wireless by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock worth $342,000 after buying an additional 15,700 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Franklin Wireless by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock worth $262,000 after buying an additional 6,416 shares during the period. Smith Moore & CO. increased its stake in shares of Franklin Wireless by 10.2% in the 4th quarter. Smith Moore & CO. now owns 48,542 shares of the company’s stock valued at $238,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of Franklin Wireless in the 4th quarter valued at approximately $142,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

About Franklin Wireless

Franklin Wireless Corp. provides integrated wireless solutions. The company's products include 5G/4G wireless broadband products, such as wi-fi mobile hotspot, fixed wireless routers, and enterprise gateway CPE; and IoT tracking and connected devices, including smart IoT tracking device, connected car, and home phone connect.