Susquehanna International Group LLP Raises Stock Holdings in Franklin Wireless Corp. $FKWL

Susquehanna International Group LLP lifted its stake in Franklin Wireless Corp. (NASDAQ:FKWL) by 2,417.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 owned about 3.69% of Franklin Wireless worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FKWL. Osaic Holdings Inc. grew 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 valued at $585,000 after acquiring an additional 7,000 shares during the period. Fortis Capital Management LLC lifted its holdings in Franklin Wireless by 69.0% during the first quarter. Fortis Capital Management LLC now owns 24,500 shares of the company’s stock valued at $93,000 after purchasing an additional 10,000 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Franklin Wireless during the second quarter valued at approximately $44,000. Goldman Sachs Group Inc. bought a new position in shares of Franklin Wireless in the first quarter worth approximately $66,000. Finally, Founders Financial Securities LLC bought a new position in shares of Franklin Wireless in the fourth quarter worth approximately $59,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Franklin Wireless in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Franklin Wireless Price Performance

Shares of FKWL stock opened at $2.51 on Monday. The company’s fifty day simple moving average is $2.41 and its two-hundred day simple moving average is $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 cap of $29.57 million, a P/E ratio of -41.83 and a beta of 0.28.

Franklin Wireless Profile

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.