Franklin Wireless Corp. $FKWL Shares Sold by AIGH Capital Management LLC

AIGH Capital Management LLC lessened its stake in Franklin Wireless Corp. (NASDAQ:FKWL) by 63.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,702 shares of the company’s stock after selling 245,648 shares during the quarter. AIGH Capital Management LLC owned about 1.19% of Franklin Wireless worth $584,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Ritholtz Wealth Management boosted its holdings in shares of Franklin Wireless by 101.0% in the 2nd quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock valued at $145,000 after purchasing an additional 17,466 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Franklin Wireless in the 1st quarter valued at $157,000. 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. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Franklin Wireless in the 1st quarter valued at $66,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FKWL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Franklin Wireless in a report on Wednesday, October 8th. Lake Street Capital initiated coverage on shares of Franklin Wireless in a report on Monday, October 13th. They set a “buy” rating and a $6.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

Franklin Wireless Stock Performance

NASDAQ:FKWL opened at $4.99 on Monday. The firm’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.31. Franklin Wireless Corp. has a twelve month low of $3.66 and a twelve month high of $7.45.

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

About Franklin Wireless

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.