Franklin Wireless Corp. (NASDAQ:FKWL) Sees Large Drop in Short Interest

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large drop in short interest during the month of 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 trading volume of 11,600 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.2% of the company’s shares are sold short.

Franklin Wireless Stock Performance

Shares of Franklin Wireless stock opened at $4.30 on Wednesday. The company’s 50 day moving average price is $4.30 and its 200-day moving average price is $3.94. Franklin Wireless has a 52-week low of $2.69 and a 52-week high of $4.59. The stock has a market capitalization of $50.65 million, a price-to-earnings ratio of -15.93 and a beta of 0.21.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Franklin Wireless stock. Geode Capital Management LLC grew its holdings in shares of Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,859 shares of the company’s stock after buying an additional 28,052 shares during the period. Geode Capital Management LLC owned 0.85% of Franklin Wireless worth $457,000 as of its most recent SEC filing. 18.49% of the stock is owned by institutional investors and hedge funds.

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.