Franklin Wireless (NASDAQ:FKWL) Trading Up 1.9% – Should You Buy?

Franklin Wireless Corp. (NASDAQ:FKWL)’s stock price was up 1.9% on Thursday . The company traded as high as $4.19 and last traded at $4.19. Approximately 8,690 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 14,610 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FKWL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Franklin Wireless in a research report on Wednesday, October 8th. Lake Street Capital began coverage on shares of Franklin Wireless in a research report on Monday, October 13th. They issued a “buy” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Franklin Wireless currently has a consensus rating of “Hold” and an average price target of $6.00.

Franklin Wireless Trading Up 1.9%

The firm’s 50-day moving average price is $4.38 and its 200-day moving average price is $4.36.

Franklin Wireless (NASDAQ:FKWL) last posted its earnings results on Friday, November 14th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.14. The company had revenue of $12.74 million during the quarter, compared to analysts’ expectations of $7.20 million. Franklin Wireless had a negative net margin of 0.26% and a negative return on equity of 0.31%.

Franklin Wireless Announces Dividend

The company also recently announced a special dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, November 14th.

Hedge Funds Weigh In On Franklin Wireless

Several institutional investors have recently added to or reduced their stakes in FKWL. Osaic Holdings Inc. increased its stake in Franklin Wireless by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after acquiring an additional 23,200 shares during the last quarter. Smith Moore & CO. grew its holdings in shares of Franklin Wireless by 29.0% in the third quarter. Smith Moore & CO. now owns 84,172 shares of the company’s stock valued at $367,000 after purchasing an additional 18,900 shares in the last quarter. Ritholtz Wealth Management increased its position in Franklin Wireless by 101.0% in the second quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock worth $145,000 after purchasing an additional 17,466 shares during the last quarter. Acadian Asset Management LLC increased its position in Franklin Wireless by 175.5% in the first 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. Finally, Goldman Sachs Group Inc. purchased a new stake in Franklin Wireless during the first quarter valued at $66,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

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.