Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Update

Franklin Wireless Corp. (NASDAQ:FKWL) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 81,700 shares, an increase of 112.8% from the January 31st total of 38,400 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 39,500 shares, the days-to-cover ratio is currently 2.1 days.

Hedge Funds Weigh In On Franklin Wireless

A number of institutional investors have recently added to or reduced their stakes in FKWL. Dimensional Fund Advisors LP boosted its position in shares of Franklin Wireless by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock valued at $262,000 after acquiring an additional 6,416 shares during the period. Renaissance Technologies LLC lifted its holdings in Franklin Wireless by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock valued at $342,000 after buying an additional 15,700 shares during the period. Smith Moore & CO. grew its holdings in shares of Franklin Wireless by 10.2% during the fourth quarter. Smith Moore & CO. now owns 48,542 shares of the company’s stock valued at $238,000 after buying an additional 4,500 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of Franklin Wireless during the fourth quarter valued at about $142,000. Finally, Geode Capital Management LLC increased its position in Franklin Wireless by 39.1% in the third quarter. Geode Capital Management LLC now owns 99,859 shares of the company’s stock worth $457,000 after buying an additional 28,052 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Franklin Wireless Stock Down 0.7 %

Shares of Franklin Wireless stock opened at $6.88 on Monday. The stock has a market capitalization of $80.99 million, a P/E ratio of -36.18 and a beta of 0.18. The company has a 50-day simple moving average of $5.36 and a 200 day simple moving average of $4.64. Franklin Wireless has a 12-month low of $2.69 and a 12-month high of $7.45.

Franklin Wireless (NASDAQ:FKWL) last issued its earnings results on Friday, February 14th. The company reported $0.02 earnings per share (EPS) for the quarter. Franklin Wireless had a negative net margin of 5.06% and a negative return on equity of 5.91%. The company had revenue of $17.83 million for the quarter.

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.