Franklin Wireless (NASDAQ:FKWL) Stock Price Down 2.1% – Here’s What Happened

Franklin Wireless Corp. (NASDAQ:FKWL)’s share price dropped 2.1% during mid-day trading on Thursday . The company traded as low as $4.18 and last traded at $4.20. Approximately 11,280 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 13,642 shares. The stock had previously closed at $4.29.

Franklin Wireless Stock Down 2.1 %

The stock has a market cap of $49.49 million, a price-to-earnings ratio of -15.56 and a beta of 0.20. The company has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $3.90.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings data on Monday, September 30th. The company reported ($0.15) earnings per share (EPS) for the quarter. Franklin Wireless had a negative return on equity of 8.43% and a negative net margin of 9.26%. The company had revenue of $6.12 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Franklin Wireless stock. Geode Capital Management LLC boosted its position in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,859 shares of the company’s stock after purchasing an additional 28,052 shares during the period. Geode Capital Management LLC owned 0.85% of Franklin Wireless worth $457,000 at the end of the most recent quarter. 18.49% of the stock is currently 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.