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

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of a significant decrease in short interest in 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 stock are short sold. Based on an average daily volume of 43,700 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On Franklin Wireless

Several institutional investors have recently bought and sold shares of FKWL. Thompson Davis & CO. Inc. bought a new position in Franklin Wireless during the fourth quarter valued at $142,000. Smith Moore & CO. lifted 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 lifted 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 lifted 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 raised 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 valued at $457,000 after acquiring an additional 28,052 shares during the period. Institutional investors own 18.49% of the company’s stock.

Franklin Wireless Trading Down 0.9 %

Shares of NASDAQ:FKWL traded down $0.05 during midday trading on Wednesday, reaching $5.68. 27,960 shares of the company were exchanged, compared to its average volume of 21,706. The business’s fifty day moving average is $5.71 and its two-hundred day moving average is $4.82. Franklin Wireless has a one year low of $2.69 and a one year high of $7.45. The stock has a market cap of $66.91 million, a PE ratio of -29.89 and a beta of 0.32.

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