Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Rises By 185.6%

Franklin Wireless Corp. (NASDAQ:FKWL) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 31,700 shares, a growth of 185.6% from the December 15th total of 11,100 shares. Based on an average daily volume of 17,100 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.4% of the shares of the stock are sold short.

Franklin Wireless Stock Down 1.0 %

Shares of FKWL stock traded down $0.05 during trading on Wednesday, hitting $4.93. The company had a trading volume of 4,480 shares, compared to its average volume of 16,298. Franklin Wireless has a 52 week low of $2.69 and a 52 week high of $5.09. The stock has a market capitalization of $58.10 million, a price-to-earnings ratio of -18.26 and a beta of 0.18. The stock’s 50-day moving average is $4.46 and its two-hundred day moving average is $4.24.

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Dimensional Fund Advisors LP boosted its position in Franklin Wireless Corp. (NASDAQ:FKWL) by 74.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,968 shares of the company’s stock after acquiring an additional 17,469 shares during the quarter. Dimensional Fund Advisors LP owned 0.35% of Franklin Wireless worth $149,000 as of its most recent filing with the Securities & Exchange Commission. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.