Franklin Wireless (NASDAQ:FKWL) Trading 0.8% Higher – Should You Buy?

Franklin Wireless Corp. (NASDAQ:FKWL)’s share price shot up 0.8% during trading on Thursday . The stock traded as high as $2.45 and last traded at $2.43. Approximately 93,730 shares changed hands during mid-day trading, an increase of 228% from the average session volume of 28,585 shares. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Franklin Wireless from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, May 26th. One equities research 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, Franklin Wireless has an average rating of “Hold” and a consensus target price of $6.00.

Franklin Wireless Price Performance

The firm’s 50 day moving average price is $2.90 and its 200-day moving average price is $3.58. The stock has a market cap of $28.63 million, a P/E ratio of -40.50 and a beta of 0.27.

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

Institutional Investors Weigh In On Franklin Wireless

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its stake in Franklin Wireless by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 133,903 shares of the company’s stock worth $585,000 after acquiring an additional 7,000 shares during the period. Smith Moore & CO. lifted its holdings in Franklin Wireless by 14.5% during the fourth quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock valued at $421,000 after purchasing an additional 12,228 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of 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 period. Fortis Capital Management LLC increased its stake in shares of Franklin Wireless by 69.0% in the first quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock worth $93,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in shares of Franklin Wireless in the fourth quarter worth $59,000. 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.