Franklin Wireless (NASDAQ:FKWL) Posts Earnings Results, Misses Estimates By $0.12 EPS

Franklin Wireless (NASDAQ:FKWL) released its quarterly earnings results on Friday. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12), FiscalAI reports. Franklin Wireless had a negative return on equity of 0.55% and a net margin of 0.47%.The company had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $9.90 million.

Franklin Wireless Stock Performance

FKWL traded down $0.35 during trading on Friday, reaching $3.10. The company’s stock had a trading volume of 392,938 shares, compared to its average volume of 15,289. Franklin Wireless has a 52-week low of $3.00 and a 52-week high of $5.48. The company’s fifty day moving average price is $3.65 and its 200-day moving average price is $4.13. The company has a market capitalization of $36.52 million, a price-to-earnings ratio of -51.67 and a beta of 0.32.

Institutional Investors Weigh In On Franklin Wireless

A number of institutional investors have recently added to or reduced their stakes in FKWL. Osaic Holdings Inc. boosted its stake 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 worth $585,000 after acquiring an additional 7,000 shares in the last quarter. Smith Moore & CO. boosted its stake in shares of Franklin Wireless by 14.5% during the 4th quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock worth $421,000 after acquiring an additional 12,228 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Franklin Wireless by 175.5% during the 1st 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 in the last quarter. Fortis Capital Management LLC boosted its stake in shares of Franklin Wireless by 69.0% during the 1st quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock worth $93,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new stake in shares of Franklin Wireless during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Franklin Wireless from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

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.