Franklin Wireless (NASDAQ:FKWL) Trading 2.3% Higher – Should You Buy?

Franklin Wireless Corp. (NASDAQ:FKWL) traded up 2.3% during trading on Monday . The company traded as high as $4.62 and last traded at $4.44. 31,921 shares traded hands during trading, an increase of 54% from the average session volume of 20,690 shares. The stock had previously closed at $4.34.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Franklin Wireless from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd.

Franklin Wireless Trading Up 2.3%

The stock has a fifty day moving average of $4.03 and a 200-day moving average of $4.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Franklin Wireless by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock valued at $262,000 after purchasing an additional 6,416 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Franklin Wireless in the second quarter valued at approximately $44,000. Goldman Sachs Group Inc. bought a new position in Franklin Wireless in the first quarter valued at approximately $66,000. Renaissance Technologies LLC grew its stake in Franklin Wireless by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock valued at $342,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Franklin Wireless by 175.5% in the first 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. 18.49% of the stock is currently owned by institutional investors.

Franklin Wireless Company Profile

Franklin Wireless Corp. provides integrated wireless solutions. The company's products include 5G/4G wireless broadband products, such as wi-fi mobile hotspot, fixed wireless routers, and enterprise gateway CPE; and IoT tracking and connected devices, including smart IoT tracking device, connected car, and home phone connect.