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

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

Analysts Set New Price Targets

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

Franklin Wireless Price Performance

The stock’s 50-day moving average is $4.71 and its 200-day moving average is $4.34. The stock has a market cap of $50.42 million, a price-to-earnings ratio of -428.00 and a beta of 0.25.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $12.74 million during the quarter, compared to the consensus estimate of $7.20 million.

Franklin Wireless Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were given a dividend of $0.04 per share. The ex-dividend date was Friday, November 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Evergreen Capital Management LLC acquired a new stake in shares of Franklin Wireless in the second quarter worth approximately $44,000. Goldman Sachs Group Inc. purchased a new position in Franklin Wireless during the first quarter worth approximately $66,000. Acadian Asset Management LLC boosted its holdings in shares of 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. Ritholtz Wealth Management grew its stake in shares of Franklin Wireless by 101.0% during the 2nd 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 period. Finally, Smith Moore & CO. grew its stake in shares of Franklin Wireless by 29.0% during the 3rd 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. Institutional investors and hedge funds own 18.49% of the company’s stock.

Franklin Wireless Company Profile

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.