Franklin Wireless (NASDAQ:FKWL) Stock Price Down 2.2% – Time to Sell?

Franklin Wireless Corp. (NASDAQ:FKWL)’s stock price traded down 2.2% during trading on Monday. The stock traded as low as $2.20 and last traded at $2.20. Approximately 3,415 shares were traded during trading, a decline of 60% from the average session volume of 8,622 shares. The stock had previously closed at $2.25.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Franklin Wireless in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Franklin Wireless currently has a consensus rating of “Sell”.

Franklin Wireless Trading Down 0.9%

The business has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $2.73. The stock has a market cap of $25.69 million, a P/E ratio of -5.45 and a beta of 0.29.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings data on Monday, September 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $8.40 million during the quarter, compared to the consensus estimate of $10.60 million. Franklin Wireless had a negative return on equity of 1.70% and a negative net margin of 12.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FKWL. Fortis Capital Management LLC boosted its stake in shares of Franklin Wireless by 69.0% in the 1st quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock valued at $93,000 after purchasing an additional 10,000 shares during the last quarter. BlackRock Inc. bought a new position in Franklin Wireless during the second quarter worth $87,000. Finally, Susquehanna International Group LLP raised its stake in Franklin Wireless by 2,417.2% during the second quarter. Susquehanna International Group LLP now owns 434,667 shares of the company’s stock worth $1,104,000 after buying an additional 417,399 shares during the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

About Franklin Wireless

Franklin Wireless Corporation develops and markets wireless broadband products and connected devices. Its product portfolio includes mobile hotspots, routers and other hardware designed to provide cellular-based internet connectivity for consumers, businesses and specialized applications.

The company’s products support wireless networks, including newer 5G technologies, and are sold primarily through mobile network operators, distributors and other channel partners. Franklin Wireless serves customers in the United States and select international markets, depending on operator and distribution relationships.

Franklin Wireless was founded in 1989 and is headquartered in San Diego, California.