Franklin Wireless (NASDAQ:FKWL) Issues Earnings Results

Franklin Wireless (NASDAQ:FKWL) announced its quarterly earnings data on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, Zacks reports. Franklin Wireless had a negative net margin of 0.26% and a negative return on equity of 0.31%. The business had revenue of $11.93 million during the quarter.

Franklin Wireless Trading Down 2.1%

Shares of FKWL stock opened at $3.99 on Wednesday. Franklin Wireless has a 12-month low of $3.66 and a 12-month high of $7.45. The business’s 50 day moving average is $4.21 and its two-hundred day moving average is $4.38.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Franklin Wireless

A number of institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC acquired a new position in Franklin Wireless during the second quarter worth $44,000. Goldman Sachs Group Inc. acquired a new position in shares of Franklin Wireless during the 1st quarter worth about $66,000. Acadian Asset Management LLC lifted its stake in 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 buying an additional 16,211 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings 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 buying an additional 23,200 shares during the last quarter. Institutional investors and hedge funds 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.