Franklin Wireless (NASDAQ:FKWL) Shares Up 3.4% – Here’s What Happened

Franklin Wireless Corp. (NASDAQ:FKWL) shares rose 3.4% on Tuesday . The company traded as high as $3.86 and last traded at $3.66. Approximately 10,235 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 6,301 shares. The stock had previously closed at $3.54.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Franklin Wireless Trading Up 3.4%

The company has a fifty day moving average price of $3.96 and a 200-day moving average price of $4.33.

Franklin Wireless (NASDAQ:FKWL) last posted its earnings results on Tuesday, February 17th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Franklin Wireless had a net margin of 0.47% and a negative return on equity of 0.55%. The business had revenue of $11.93 million during the quarter, compared to analysts’ expectations of $11.93 million.

Institutional Trading of Franklin Wireless

A number of large investors have recently made changes to their positions in FKWL. Osaic Holdings Inc. raised its position in shares of Franklin Wireless by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 133,903 shares of the company’s stock valued at $585,000 after buying an additional 7,000 shares in the last quarter. Founders Financial Securities LLC purchased a new position in Franklin Wireless in the fourth quarter worth about $59,000. Smith Moore & CO. increased its stake in Franklin Wireless by 14.5% during the fourth quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock worth $421,000 after acquiring an additional 12,228 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Franklin Wireless during the second quarter worth approximately $44,000. Finally, Acadian Asset Management LLC raised its position in Franklin Wireless by 175.5% during 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 during the period. 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.