Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Drops By 6.1%

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 18,400 shares, a drop of 6.1% from the October 31st total of 19,600 shares. Based on an average daily trading volume, of 11,600 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.2% of the shares of the stock are sold short.

Franklin Wireless Stock Performance

NASDAQ:FKWL remained flat at $4.25 during trading hours on Tuesday. The company’s stock had a trading volume of 16,861 shares, compared to its average volume of 13,600. The business’s 50-day simple moving average is $4.30 and its two-hundred day simple moving average is $3.93. Franklin Wireless has a 52 week low of $2.69 and a 52 week high of $4.59. The firm has a market cap of $50.07 million, a P/E ratio of -16.15 and a beta of 0.21.

Franklin Wireless (NASDAQ:FKWL) last issued its quarterly earnings results on Monday, September 30th. The company reported ($0.15) EPS for the quarter. Franklin Wireless had a negative return on equity of 8.43% and a negative net margin of 9.26%. The firm had revenue of $6.12 million for the quarter.

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Geode Capital Management LLC grew its position in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,859 shares of the company’s stock after buying an additional 28,052 shares during the quarter. Geode Capital Management LLC owned 0.85% of Franklin Wireless worth $457,000 as of its most recent filing with the Securities and Exchange Commission. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.