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

Franklin Wireless Corp. (NASDAQ:FKWL) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 39,481 shares, a growth of 122.4% from the January 15th total of 17,751 shares. Based on an average daily trading volume, of 8,184 shares, the days-to-cover ratio is presently 4.8 days. Based on an average daily trading volume, of 8,184 shares, the days-to-cover ratio is presently 4.8 days.

Franklin Wireless Price Performance

FKWL traded down $0.06 during mid-day trading on Thursday, hitting $4.06. 6,018 shares of the stock were exchanged, compared to its average volume of 7,636. The firm’s fifty day moving average is $4.24 and its two-hundred day moving average is $4.37. Franklin Wireless has a 1-year low of $3.66 and a 1-year high of $7.45.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.14. The company had revenue of $12.74 million for the quarter, compared to analyst estimates of $7.20 million. Franklin Wireless had a negative net margin of 0.26% and a negative return on equity of 0.31%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Franklin Wireless in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FKWL. Founders Financial Securities LLC purchased a new stake in Franklin Wireless during the 4th quarter worth about $59,000. Smith Moore & CO. grew its position in shares of Franklin Wireless by 14.5% during the fourth quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock worth $421,000 after buying an additional 12,228 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Franklin Wireless by 25.2% during the second quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after buying an additional 23,200 shares during the period. Evergreen Capital Management LLC acquired a new stake in Franklin Wireless in the second quarter valued at approximately $44,000. Finally, Ritholtz Wealth Management lifted its stake in Franklin Wireless by 101.0% in the second quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock worth $145,000 after acquiring an additional 17,466 shares during the last quarter. 18.49% of the stock is owned by institutional investors and hedge funds.

Franklin Wireless Company Profile

Franklin Wireless Corporation, headquartered in Fremont, California, designs and manufactures a range of cellular wireless devices and solutions. The company’s product lineup includes 4G LTE and 5G NR modules, routers, gateways and USB dongles under its MYFi brand, catering to both consumer and industrial applications. Franklin Wireless focuses on high-speed data communications, remote monitoring and mobile broadband, making its devices suitable for IoT deployments, enterprise networking and M2M connectivity.

Since its founding in 2005, Franklin Wireless has combined in-house research and development with strategic manufacturing partnerships across Asia and North America.