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

Franklin Wireless Corp. (NASDAQ:FKWL) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 70,500 shares, a drop of 13.7% from the February 13th total of 81,700 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 43,700 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Franklin Wireless

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of 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 in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Franklin Wireless by 29.0% in the fourth quarter. Renaissance Technologies LLC now owns 69,800 shares of the company’s stock worth $342,000 after buying an additional 15,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $262,000 after buying an additional 6,416 shares in the last quarter. Smith Moore & CO. lifted its stake in shares of Franklin Wireless by 10.2% in the fourth quarter. Smith Moore & CO. now owns 48,542 shares of the company’s stock worth $238,000 after buying an additional 4,500 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Franklin Wireless in the fourth quarter worth approximately $142,000. Institutional investors own 18.49% of the company’s stock.

Franklin Wireless Trading Down 0.9 %

Shares of FKWL stock traded down $0.05 during mid-day trading on Wednesday, reaching $5.68. The stock had a trading volume of 27,960 shares, compared to its average volume of 21,706. The stock’s 50-day moving average price is $5.71 and its two-hundred day moving average price is $4.82. Franklin Wireless has a 52-week low of $2.69 and a 52-week high of $7.45. The firm has a market capitalization of $66.91 million, a PE ratio of -29.89 and a beta of 0.32.

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

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.