Franklin Wireless (NASDAQ:FKWL) Shares Down 1.3% – Time to Sell?
by Doug Wharley · The Cerbat GemFranklin Wireless Corp. (NASDAQ:FKWL – Get Free Report)’s share price dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.12. Approximately 2,981 shares traded hands during trading, a decline of 91% from the average daily volume of 33,577 shares. The stock had previously closed at $3.16.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut shares of Franklin Wireless from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Franklin Wireless has a consensus rating of “Hold” and an average target price of $6.00.
Read Our Latest Stock Analysis on FKWL
Franklin Wireless Stock Up 4.0%
The firm has a market capitalization of $36.52 million, a PE ratio of -51.67 and a beta of 0.32. The company’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $4.06.
Franklin Wireless (NASDAQ:FKWL – Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The firm had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $9.90 million. Franklin Wireless had a negative net margin of 2.07% and a negative return on equity of 2.98%.
Institutional Trading of Franklin Wireless
Several hedge funds have recently modified their holdings of FKWL. Osaic Holdings Inc. lifted its position in shares of Franklin Wireless by 25.2% during the second 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. Smith Moore & CO. lifted its position in shares of 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 last quarter. Acadian Asset Management LLC lifted its position in shares of 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 buying an additional 16,211 shares during the last quarter. Founders Financial Securities LLC purchased a new stake in shares of Franklin Wireless during the fourth quarter valued at about $59,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Franklin Wireless in the 1st quarter valued at approximately $66,000. 18.49% of the stock is owned by hedge funds and other 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.