Susquehanna International Group LLP boosted its position in Franklin Wireless Corp. (NASDAQ:FKWL – Free Report) by 2,417.2% in the 2nd quarter, Holdings Channel reports. The firm owned 434,667 shares of the company’s stock after buying an additional 417,399 shares during the quarter. Susquehanna International Group LLP’s holdings in Franklin Wireless were worth $1,104,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in Franklin Wireless by 5.5% in 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. Fortis Capital Management LLC boosted its holdings in shares of Franklin Wireless by 69.0% in the 1st quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock valued at $93,000 after buying an additional 10,000 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Franklin Wireless in the second quarter worth $44,000. Goldman Sachs Group Inc. purchased a new stake in Franklin Wireless in the first quarter valued at about $66,000. Finally, Founders Financial Securities LLC acquired a new position in Franklin Wireless during the 4th quarter valued at approximately $59,000. 18.49% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Franklin Wireless in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.
Franklin Wireless Price Performance
Shares of NASDAQ FKWL opened at $2.51 on Monday. The firm has a 50-day simple moving average of $2.41 and a 200-day simple moving average of $3.12. Franklin Wireless Corp. has a 52 week low of $2.21 and a 52 week high of $5.48. The stock has a market capitalization of $29.57 million, a price-to-earnings ratio of -41.83 and a beta of 0.28.
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.
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