Franklin Wireless (NASDAQ:FKWL) Trading Up 3.4% – Still a Buy?

Franklin Wireless Corp. (NASDAQ:FKWL) traded up 3.4% during trading on Friday . The stock traded as high as $4.42 and last traded at $4.28. 30,189 shares traded hands during mid-day trading, an increase of 168% from the average session volume of 11,282 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Franklin Wireless in a research report on Wednesday, October 8th. Lake Street Capital began coverage on shares of Franklin Wireless in a report on Monday, October 13th. They set a “buy” rating and a $6.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.00.

Franklin Wireless Trading Up 3.4%

The business’s fifty day moving average price is $4.71 and its 200-day moving average price is $4.33.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings results on Friday, November 14th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.14. Franklin Wireless had a negative return on equity of 0.31% and a negative net margin of 0.26%.The business had revenue of $12.74 million for the quarter, compared to the consensus estimate of $7.20 million.

Franklin Wireless Dividend Announcement

The company also recently announced a special dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, November 14th.

Institutional Investors Weigh In On Franklin Wireless

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its holdings in shares of Franklin Wireless by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock valued at $482,000 after purchasing an additional 23,200 shares during the last quarter. Smith Moore & CO. boosted its position in Franklin Wireless by 29.0% during the third quarter. Smith Moore & CO. now owns 84,172 shares of the company’s stock valued at $367,000 after buying an additional 18,900 shares during the period. Ritholtz Wealth Management grew its stake in shares of Franklin Wireless by 101.0% during the second quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock valued at $145,000 after buying an additional 17,466 shares during the last quarter. Acadian Asset Management LLC increased its holdings 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 buying an additional 16,211 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Franklin Wireless in the 1st quarter valued at about $66,000. 18.49% of the stock is currently owned by institutional investors.

About Franklin Wireless

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.