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

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of 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 trading volume of 8,184 shares, the short-interest ratio is currently 4.8 days. Based on an average trading volume of 8,184 shares, the short-interest ratio is currently 4.8 days.

Franklin Wireless Price Performance

Shares of NASDAQ:FKWL traded down $0.06 during midday trading on Thursday, hitting $4.06. The company had a trading volume of 6,018 shares, compared to its average volume of 7,636. Franklin Wireless has a twelve month low of $3.66 and a twelve month high of $7.45. The business’s 50-day simple moving average is $4.24 and its 200-day simple moving average is $4.37.

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

Institutional Trading of Franklin Wireless

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC purchased a new stake in shares of Franklin Wireless during the 2nd quarter valued at approximately $44,000. Goldman Sachs Group Inc. acquired a new stake in Franklin Wireless during the first quarter worth $66,000. Smith Moore & CO. raised its position in Franklin Wireless by 14.5% in the fourth quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock valued at $421,000 after purchasing an additional 12,228 shares during the period. Founders Financial Securities LLC acquired a new position in shares of Franklin Wireless in the 4th quarter valued at $59,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Franklin Wireless by 175.5% during the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after purchasing an additional 16,211 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.

Analyst Ratings Changes

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

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.