Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Drops By 13.7%

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 70,500 shares, a decrease of 13.7% from the February 13th total of 81,700 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 43,700 shares, the short-interest ratio is currently 1.6 days.

Franklin Wireless Price Performance

FKWL stock opened at $5.69 on Friday. The firm’s fifty day simple moving average is $5.74 and its 200-day simple moving average is $4.83. The company has a market capitalization of $67.03 million, a P/E ratio of -29.95 and a beta of 0.32. Franklin Wireless has a 12 month low of $2.69 and a 12 month high of $7.45.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings data on Friday, February 14th. The company reported $0.02 EPS for the quarter. The business 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%.

Institutional Trading of Franklin Wireless

Several large investors have recently made changes to their positions in the business. Smith Moore & CO. lifted its stake in shares of Franklin Wireless by 10.2% in the 4th 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 period. Dimensional Fund Advisors LP lifted its stake in shares of Franklin Wireless by 13.7% in the 4th 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 period. Renaissance Technologies LLC lifted its stake in shares of Franklin Wireless by 29.0% in the 4th 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 period. Geode Capital Management LLC lifted its stake in shares of Franklin Wireless by 39.1% in the 3rd 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 period. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Franklin Wireless in the 4th quarter valued at $142,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

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.