Franklin Wireless (FKWL) to Release Quarterly Earnings on Wednesday

Franklin Wireless (NASDAQ:FKWL) is projected to post its results before the market opens on Wednesday, June 3rd. Analysts expect Franklin Wireless to post earnings of ($0.01) per share and revenue of $9.90 million for the quarter.

Franklin Wireless (NASDAQ:FKWL) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). Franklin Wireless had a negative return on equity of 2.98% and a negative net margin of 2.07%.The company had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $9.90 million.

Franklin Wireless Stock Down 3.6%

NASDAQ FKWL opened at $2.92 on Wednesday. Franklin Wireless has a 52 week low of $2.89 and a 52 week high of $5.48. The business’s fifty day simple moving average is $3.56 and its 200-day simple moving average is $4.02. The firm has a market cap of $34.40 million, a PE ratio of -48.67 and a beta of 0.32.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Franklin Wireless from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Franklin Wireless currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Trading of Franklin Wireless

A number of hedge funds and other institutional investors have recently modified their holdings of FKWL. Osaic Holdings Inc. increased its position in shares of Franklin Wireless by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after purchasing an additional 23,200 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Franklin Wireless by 175.5% during the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after purchasing an additional 16,211 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Franklin Wireless during the 1st quarter worth about $66,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Franklin Wireless during the 2nd quarter worth about $44,000. 18.49% of the stock is owned by institutional investors and hedge funds.

Franklin Wireless Company Profile

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.