Franklin Wireless (NASDAQ:FKWL) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Franklin Wireless (NASDAQ:FKWL) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Franklin Wireless in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

Franklin Wireless Price Performance

Shares of NASDAQ FKWL opened at $5.05 on Monday. Franklin Wireless has a 52-week low of $3.66 and a 52-week high of $7.45. The firm has a fifty day moving average of $4.22 and a 200-day moving average of $4.34.

Franklin Wireless (NASDAQ:FKWL) last announced its quarterly earnings data on Monday, September 29th. The company reported ($0.03) earnings per share (EPS) for the quarter. Franklin Wireless had a negative net margin of 0.53% and a negative return on equity of 0.65%. The company had revenue of $6.93 million for the quarter.

Hedge Funds Weigh In On Franklin Wireless

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management purchased a new position in Franklin Wireless in the 1st quarter valued at about $99,000. Avantax Advisory Services Inc. purchased a new position in Franklin Wireless in the 1st quarter valued at about $157,000. Goldman Sachs Group Inc. purchased a new position in Franklin Wireless in the 1st quarter valued at about $66,000. Osaic Holdings Inc. boosted its position in Franklin Wireless by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock valued at $482,000 after buying an additional 23,200 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position 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 during the last quarter. 18.49% of the stock is owned by hedge funds and other 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.