Franklin Wireless (NASDAQ:FKWL) Announces Earnings Results

Franklin Wireless (NASDAQ:FKWL) issued its quarterly earnings results on Friday. The company reported ($0.13) earnings per share for the quarter, FiscalAI reports. Franklin Wireless had a net margin of 0.47% and a negative return on equity of 0.55%. The company had revenue of $3.44 million during the quarter.

Franklin Wireless Stock Performance

NASDAQ FKWL traded down $0.35 during trading on Friday, hitting $3.10. The stock had a trading volume of 392,938 shares, compared to its average volume of 15,289. The stock has a market capitalization of $36.52 million, a price-to-earnings ratio of 155.08 and a beta of 0.32. Franklin Wireless has a one year low of $3.00 and a one year high of $5.48. The stock has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $4.13.

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 research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On Franklin Wireless

A number of large investors have recently bought and sold shares of the business. Evergreen Capital Management LLC purchased a new position in shares of Franklin Wireless in the 2nd quarter valued at $44,000. Founders Financial Securities LLC acquired a new stake in Franklin Wireless during the 4th quarter valued at $59,000. Goldman Sachs Group Inc. acquired a new stake in Franklin Wireless during the 1st quarter valued at $66,000. Fortis Capital Management LLC grew its holdings in Franklin Wireless by 69.0% during the 1st quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock valued at $93,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Franklin Wireless by 175.5% during 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 in the last quarter. 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.