Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Increases By 112.8%

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. purchased a new position in shares of Franklin Wireless during the fourth quarter valued at $142,000. Smith Moore & CO. boosted its position in 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 purchasing an additional 4,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Franklin Wireless by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock valued at $262,000 after purchasing an additional 6,416 shares during the last quarter. Renaissance Technologies LLC boosted its position in Franklin Wireless by 29.0% during the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock valued at $342,000 after purchasing an additional 15,700 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Franklin Wireless by 39.1% during the third quarter. Geode Capital Management LLC now owns 99,859 shares of the company’s stock valued at $457,000 after purchasing an additional 28,052 shares during the last quarter. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Franklin Wireless Stock Performance

Shares of FKWL stock traded up $0.31 on Friday, reaching $6.92. 34,840 shares of the company’s stock traded hands, compared to its average volume of 52,724. Franklin Wireless has a 12-month low of $2.69 and a 12-month high of $7.45. The company has a market capitalization of $81.52 million, a P/E ratio of -36.42 and a beta of 0.18. The business’s 50 day moving average price is $5.36 and its two-hundred day moving average price is $4.63.

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

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.