Franklin Wireless (NASDAQ:FKWL) Stock Price Down 1% – What’s Next?

Franklin Wireless Corp. (NASDAQ:FKWL)’s share price traded down 1% on Monday . The company traded as low as $4.16 and last traded at $4.17. 27,221 shares changed hands during trading, an increase of 0% from the average session volume of 27,160 shares. The stock had previously closed at $4.21.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Franklin Wireless from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd.

Franklin Wireless Stock Performance

The stock has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $5.07. The stock has a market capitalization of $49.12 million, a price-to-earnings ratio of -21.95 and a beta of 0.47.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter. Franklin Wireless had a negative return on equity of 5.91% and a negative net margin of 5.06%.

Insiders Place Their Bets

In related news, President Oc Kim sold 200,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $3.73, for a total value of $746,000.00. Following the completion of the sale, the president now directly owns 1,096,695 shares of the company’s stock, valued at $4,090,672.35. The trade was a 15.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Franklin Wireless

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in Franklin Wireless in the 1st quarter valued at about $66,000. Ritholtz Wealth Management bought a new stake in Franklin Wireless in the 1st quarter valued at about $99,000. Thompson Davis & CO. Inc. bought a new stake in Franklin Wireless in the 4th quarter valued at about $142,000. Acadian Asset Management LLC increased its position in Franklin Wireless by 175.5% in the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock valued at $144,000 after buying an additional 16,211 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new stake in Franklin Wireless in the 1st quarter valued at about $157,000. 18.49% of the stock is owned by institutional investors.

Franklin Wireless Company Profile

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.