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

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

Franklin Wireless Price Performance

The firm has a market capitalization of $78.96 million, a price-to-earnings ratio of -36.11 and a beta of 0.18. The business’s fifty day simple moving average is $5.10 and its 200 day simple moving average is $4.54.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $17.83 million during the quarter. Franklin Wireless had a negative net margin of 5.06% and a negative return on equity of 5.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Smith Moore & CO. grew its holdings in shares of Franklin Wireless by 10.2% during the fourth quarter. Smith Moore & CO. now owns 48,542 shares of the company’s stock valued at $238,000 after buying an additional 4,500 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Franklin Wireless by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock valued at $262,000 after buying an additional 6,416 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Franklin Wireless by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock valued at $342,000 after purchasing an additional 15,700 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $457,000 after purchasing an additional 28,052 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Franklin Wireless during the fourth quarter valued at about $142,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.