Ritholtz Wealth Management Grows Holdings in Franklin Wireless Corp. $FKWL

Ritholtz Wealth Management grew its holdings in Franklin Wireless Corp. (NASDAQ:FKWL) by 101.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,762 shares of the company’s stock after purchasing an additional 17,466 shares during the period. Ritholtz Wealth Management’s holdings in Franklin Wireless were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FKWL. Goldman Sachs Group Inc. bought a new stake in Franklin Wireless during the first quarter valued at about $66,000. Acadian Asset Management LLC grew its stake 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 worth $144,000 after acquiring an additional 16,211 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Franklin Wireless during the first quarter worth about $157,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Franklin Wireless Price Performance

Shares of NASDAQ:FKWL opened at $5.06 on Thursday. Franklin Wireless Corp. has a 12-month low of $3.66 and a 12-month high of $7.45. The business has a 50 day moving average of $4.35 and a two-hundred day moving average of $4.31.

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

Analyst Upgrades and Downgrades

FKWL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Franklin Wireless in a research note on Wednesday, October 8th. Lake Street Capital started coverage on Franklin Wireless in a report on Monday, October 13th. They set a “buy” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

Franklin Wireless 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.