Franklin Wireless Corp. (NASDAQ:FKWL) Sees Large Growth in Short Interest

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 31,700 shares, an increase of 185.6% from the December 15th total of 11,100 shares. Based on an average trading volume of 17,100 shares, the short-interest ratio is currently 1.9 days. Approximately 0.4% of the company’s stock are sold short.

Franklin Wireless Price Performance

FKWL opened at $4.95 on Tuesday. Franklin Wireless has a fifty-two week low of $2.69 and a fifty-two week high of $5.09. The company’s 50-day moving average is $4.45 and its 200 day moving average is $4.23. The firm has a market capitalization of $58.33 million, a P/E ratio of -18.33 and a beta of 0.18.

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Geode Capital Management LLC boosted its stake in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,859 shares of the company’s stock after acquiring an additional 28,052 shares during the period. Geode Capital Management LLC owned 0.85% of Franklin Wireless worth $457,000 as of its most recent filing with the SEC. 18.49% of the stock is currently owned by institutional investors.

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.