Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Declines By 15.8%

Franklin Wireless Corp. (NASDAQ:FKWL) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 20,821 shares, a drop of 15.8% from the February 26th total of 24,718 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 7,380 shares, the short-interest ratio is currently 2.8 days.

Franklin Wireless Price Performance

Shares of NASDAQ:FKWL traded down $0.05 on Wednesday, hitting $3.76. The company’s stock had a trading volume of 2,352 shares, compared to its average volume of 8,957. The company has a market capitalization of $44.28 million, a PE ratio of 187.99 and a beta of 0.23. The company has a 50-day simple moving average of $3.92 and a 200 day simple moving average of $4.32. Franklin Wireless has a 1 year low of $3.52 and a 1 year high of $6.15.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Franklin Wireless

Institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in shares of Franklin Wireless by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after acquiring an additional 23,200 shares during the last quarter. Smith Moore & CO. increased 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 valued at $367,000 after acquiring an additional 18,900 shares during the last quarter. Acadian Asset Management LLC raised its position in 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 purchasing an additional 16,211 shares in the last quarter. Founders Financial Securities LLC purchased a new stake in Franklin Wireless during the fourth quarter valued at about $59,000. Finally, Goldman Sachs Group Inc. bought a new stake in Franklin Wireless during the first quarter worth about $66,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

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.