Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Down 13.7% in February

Franklin Wireless Corp. (NASDAQ:FKWL - Get Free Report) saw a large 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 trading volume of 43,700 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.9% of the shares of the company are short sold.

Franklin Wireless Stock Performance

Shares of NASDAQ:FKWL traded down $0.14 on Friday, hitting $5.55. The company's stock had a trading volume of 45,895 shares, compared to its average volume of 21,919. The company has a market capitalization of $65.38 million, a price-to-earnings ratio of -29.21 and a beta of 0.32. Franklin Wireless has a 12 month low of $2.69 and a 12 month high of $7.45. The stock's 50-day moving average is $5.75 and its two-hundred day moving average is $4.85.

Franklin Wireless (NASDAQ:FKWL - Get Free Report) last issued its quarterly 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 company had revenue of $17.83 million during the quarter.

Hedge Funds Weigh In On Franklin Wireless

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new stake in shares of Franklin Wireless in the fourth quarter valued at $142,000. Smith Moore & CO. raised its position in Franklin Wireless by 10.2% in the fourth quarter. Smith Moore & CO. now owns 48,542 shares of the company's stock worth $238,000 after acquiring an additional 4,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Franklin Wireless by 13.7% in the 4th 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 during the last quarter. Renaissance Technologies LLC boosted its position in shares of Franklin Wireless by 29.0% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Franklin Wireless by 39.1% in the 3rd 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 last quarter. 18.49% of the stock is owned by institutional investors.

Remove Ads

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.