Franklin Wireless (NASDAQ:FKWL) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Franklin Wireless (NASDAQ:FKWL) issued its quarterly earnings data on Tuesday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03), Zacks reports. The business had revenue of $11.93 million during the quarter, compared to the consensus estimate of $11.93 million. Franklin Wireless had a negative return on equity of 0.55% and a net margin of 0.47%.

Franklin Wireless Stock Down 1.1%

FKWL traded down $0.05 during trading on Thursday, reaching $4.11. 2,911 shares of the company’s stock were exchanged, compared to its average volume of 5,885. Franklin Wireless has a fifty-two week low of $3.66 and a fifty-two week high of $7.45. The business has a 50 day moving average price of $4.20 and a 200 day moving average price of $4.38.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Franklin Wireless in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Institutional Trading of Franklin Wireless

Large investors have recently made changes to their positions in the business. Evergreen Capital Management LLC bought a new stake in shares of Franklin Wireless during the 2nd quarter worth $44,000. Goldman Sachs Group Inc. acquired a new position in Franklin Wireless during the 1st quarter worth approximately $66,000. Acadian Asset Management LLC lifted its stake 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 purchasing an additional 16,211 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Franklin Wireless by 25.2% in 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 in the last quarter. Institutional investors own 18.49% of the company’s stock.

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.