Franklin Wireless Corp. (NASDAQ:FKWL) President Sells $746,000.00 in Stock

Franklin Wireless Corp. (NASDAQ:FKWL) President Oc Kim sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were 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 approximately $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 can be accessed through this link.

Franklin Wireless Stock Up 4.5%

NASDAQ FKWL opened at $4.60 on Friday. The stock has a market capitalization of $54.19 million, a PE ratio of -24.21 and a beta of 0.56. Franklin Wireless Corp. has a 12-month low of $2.95 and a 12-month high of $7.45. The company has a 50 day moving average price of $5.17 and a two-hundred day moving average price of $5.07.

Franklin Wireless (NASDAQ:FKWL) last announced 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%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in Franklin Wireless during the first quarter worth $66,000. Ritholtz Wealth Management bought a new stake in shares of Franklin Wireless in the 1st quarter worth about $99,000. Thompson Davis & CO. Inc. bought a new stake in Franklin Wireless during the fourth quarter worth about $142,000. Avantax Advisory Services Inc. acquired a new stake in Franklin Wireless during the 1st quarter valued at $157,000. Finally, Smith Moore & CO. increased its stake in shares of Franklin Wireless by 10.2% in 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 in the last quarter. 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.