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

Franklin Wireless Corp. (NASDAQ:FKWL) saw a large decrease in short interest in February. As of February 13th, there was short interest totaling 26,606 shares, a decrease of 32.6% from the January 29th total of 39,481 shares. Based on an average daily volume of 7,232 shares, the short-interest ratio is currently 3.7 days. Based on an average daily volume of 7,232 shares, the short-interest ratio is currently 3.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FKWL. Evergreen Capital Management LLC purchased a new stake in Franklin Wireless in the 2nd quarter worth approximately $44,000. Founders Financial Securities LLC purchased a new position in shares of Franklin Wireless during the fourth quarter valued at approximately $59,000. Goldman Sachs Group Inc. bought a new position in shares of Franklin Wireless during the first quarter valued at approximately $66,000. Acadian Asset Management LLC raised its holdings in shares of Franklin Wireless by 175.5% during the first quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock valued at $144,000 after acquiring an additional 16,211 shares in the last quarter. Finally, Smith Moore & CO. lifted its stake in Franklin Wireless by 29.0% in the third quarter. Smith Moore & CO. now owns 84,172 shares of the company’s stock worth $367,000 after acquiring an additional 18,900 shares during the period. Institutional investors own 18.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Franklin Wireless in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

Franklin Wireless Stock Performance

Shares of NASDAQ:FKWL traded up $0.07 during trading on Friday, reaching $3.92. 4,613 shares of the company traded hands, compared to its average volume of 7,629. Franklin Wireless has a 52-week low of $3.66 and a 52-week high of $7.15. The business’s fifty day moving average is $4.14 and its 200-day moving average is $4.39.

Franklin Wireless (NASDAQ:FKWL) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $11.93 million for the quarter, compared to the consensus estimate of $11.93 million. Franklin Wireless had a net margin of 0.47% and a negative return on equity of 0.55%.

About Franklin Wireless

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.