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

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

Hedge Funds Weigh In On Franklin Wireless

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Franklin Wireless by 39.1% during the third quarter. Geode Capital Management LLC now owns 99,859 shares of the company’s stock worth $457,000 after purchasing an additional 28,052 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in Franklin Wireless in the 4th quarter worth approximately $142,000. Smith Moore & CO. grew its position 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 worth $238,000 after buying an additional 4,500 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 15,700 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 6,416 shares in the last quarter. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Franklin Wireless Trading Down 0.7 %

NASDAQ FKWL opened at $5.69 on Thursday. The firm has a market cap of $67.03 million, a PE ratio of -29.95 and a beta of 0.32. Franklin Wireless has a 1-year low of $2.69 and a 1-year high of $7.45. The stock has a 50-day moving average of $5.72 and a 200-day moving average of $4.83.

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

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.