Franklin Wireless (NASDAQ:FKWL) Releases Earnings Results

Franklin Wireless (NASDAQ:FKWL) announced its quarterly earnings data on Friday. The company reported $0.05 earnings per share for the quarter, Zacks reports. Franklin Wireless had a negative return on equity of 0.65% and a negative net margin of 0.53%.

Franklin Wireless Stock Performance

Shares of FKWL traded down $0.13 during mid-day trading on Friday, reaching $5.05. 45,219 shares of the company were exchanged, compared to its average volume of 30,023. The business has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $4.33. The stock has a market capitalization of $59.49 million, a PE ratio of -252.50 and a beta of 0.50. Franklin Wireless has a 52 week low of $3.66 and a 52 week high of $7.45.

Franklin Wireless Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Friday, November 14th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, November 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in shares of Franklin Wireless by 25.2% in the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after purchasing an additional 23,200 shares during the period. Acadian Asset Management LLC lifted its holdings in Franklin Wireless by 175.5% in 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 period. Goldman Sachs Group Inc. acquired a new position in Franklin Wireless in the first quarter valued at $66,000. Finally, Evergreen Capital Management LLC bought a new stake in Franklin Wireless during the second quarter valued at $44,000. Institutional investors own 18.49% of the company’s stock.

Analyst Ratings Changes

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

Franklin Wireless Company 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.