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

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large decline in short interest in 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 volume of 43,700 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Franklin Wireless by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 53,410 shares of the company’s stock worth $262,000 after acquiring an additional 6,416 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 worth $342,000 after acquiring an additional 15,700 shares in the last quarter. Smith Moore & CO. raised its stake in shares of Franklin Wireless by 10.2% during the 4th 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. Thompson Davis & CO. Inc. purchased a new stake in Franklin Wireless during the 4th quarter worth approximately $142,000. Finally, Geode Capital Management LLC grew its position in Franklin Wireless by 39.1% during 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. Institutional investors own 18.49% of the company’s stock.

Franklin Wireless Stock Performance

NASDAQ:FKWL opened at $5.69 on Friday. Franklin Wireless has a one year low of $2.69 and a one year high of $7.45. The firm has a market cap of $67.03 million, a P/E ratio of -29.95 and a beta of 0.32. The firm has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $4.83.

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

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.