Ritholtz Wealth Management Acquires 17,466 Shares of Franklin Wireless Corp. $FKWL

Ritholtz Wealth Management boosted its holdings in Franklin Wireless Corp. (NASDAQ:FKWL) by 101.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,762 shares of the company’s stock after purchasing an additional 17,466 shares during the quarter. Ritholtz Wealth Management’s holdings in Franklin Wireless were worth $145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FKWL. Avantax Advisory Services Inc. bought a new position in Franklin Wireless in the 1st quarter worth approximately $157,000. Goldman Sachs Group Inc. bought a new position in Franklin Wireless in the 1st quarter worth approximately $66,000. Finally, Acadian Asset Management LLC boosted its stake in Franklin Wireless by 175.5% in the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after purchasing an additional 16,211 shares during the period. 18.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Franklin Wireless Stock Down 1.2%

Shares of FKWL opened at $5.06 on Thursday. The business’s 50 day simple moving average is $4.35 and its 200-day simple moving average is $4.31. Franklin Wireless Corp. has a 1 year low of $3.66 and a 1 year high of $7.45.

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

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.