Franklin Electric Co., Inc. (NASDAQ:FELE) Hits ‘Overbought’ According to the RSI

0
24

Franklin Electric Co., Inc. (NASDAQ:FELE) has reached overbought status with a 14-day RSI of 82.06.

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to assess the strength and weakness of momentum in stock price. An RSI above 70 is an overbought indication with RSI’s under 30 indicating oversold. Overbought is a condition that occurs when price momentum is considered too high and the stock may be due to decline.

Volatility

Franklin Electric Co., Inc.’s stock has a beta of 1.61 meaning it is more volatile than the market overall which by definition has a beta of 1. Stocks with beta’s lower than 1 are less risky than the market and those with a higher beta may be more risky than the market.

The stock’s Average True Range (ATR) is 1.10. The ATR is a short term measure of volatility. It doesn’t indicate the likely direction of the stock price, just the likelihood that the stock will move.

Company shares are trading at $46.30 significantly above $40.63, the 50 day moving average and much higher than the 200 day moving average of $40.53. The 50 day moving average moved up $5.67 and the 200 day average went up by +14.24%.

Short Interest

Traders are feeling more bullish on shares of the company lately at least if you consider the change in short interest. The stock saw a fall in short interest of -19.36% between August 15, 2017 and August 31, 2017. Short interest decreased from 798,814 to 644,133 over that period. Days to cover decreased 0.0 to 6.0 and the short interest percentage is 0.01% as of August 31.

Insider Activity

There has been some selling insider activity on Franklin Electric Co., Inc. (NASDAQ:FELE) recently. Sr VP Robert J. Stone sold 39,260 shares at an average price of $45.00 on Tue the 25th. That brings the Sr VP’s holdings to $1,295,640 as reported to the SEC.

Franklin Electric Co., Inc.’s P/E ratio is 25.16 and the market cap is 2.15B. In the last earnings report the EPS was $1.84 and is projected to be $1.92 for the current year with 46,490,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.45 with next year’s EPS anticipated to be $2.12.

Company Information

Franklin Electric Co., Inc., launched on November 12, 1946, designs, manufactures and distributes water and fuel pumping systems, consisting of primarily of submersible motors, pumps, electronic controls and related parts and equipment. The Business’s segments include Water Systems segment, the Fueling Systems segment and Other. The Business’s water pumping systems move fresh and waste water for the housing, agriculture, and other industrial end markets. The Business’s Water Systems and Fueling Systems products, and related equipment are sold to specialty distributors and some original equipment manufacturers (OEMs), as well as industrial and petroleum equipment distributors and oil and utility companies..