Franklin Wireless (NASDAQ:FKWL) Posts Quarterly Earnings Results

Franklin Wireless (NASDAQ:FKWL) issued its quarterly earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Franklin Wireless had a negative return on equity of 0.31% and a negative net margin of 0.26%.

Franklin Wireless Stock Up 2.8%

Shares of Franklin Wireless stock traded up $0.12 on Tuesday, hitting $4.19. The stock had a trading volume of 5,614 shares, compared to its average volume of 10,132. Franklin Wireless has a one year low of $3.66 and a one year high of $7.45. The stock’s 50-day simple moving average is $4.22 and its two-hundred day simple moving average is $4.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FKWL. Evergreen Capital Management LLC bought a new position in shares of Franklin Wireless in the second quarter worth about $44,000. Goldman Sachs Group Inc. bought a new position in Franklin Wireless during the first quarter valued at $66,000. Acadian Asset Management LLC lifted its stake in shares of 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 purchasing an additional 16,211 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Franklin Wireless by 25.2% during the second quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after buying an additional 23,200 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Franklin Wireless in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Franklin Wireless has a consensus rating of “Hold” and a consensus price target of $6.00.

About Franklin Wireless

Franklin Wireless Corporation, headquartered in Fremont, California, designs and manufactures a range of cellular wireless devices and solutions. The company’s product lineup includes 4G LTE and 5G NR modules, routers, gateways and USB dongles under its MYFi brand, catering to both consumer and industrial applications. Franklin Wireless focuses on high-speed data communications, remote monitoring and mobile broadband, making its devices suitable for IoT deployments, enterprise networking and M2M connectivity.

Since its founding in 2005, Franklin Wireless has combined in-house research and development with strategic manufacturing partnerships across Asia and North America.