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

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

Institutional Trading of Franklin Wireless

A number of hedge funds have recently added to or reduced their stakes in FKWL. Osaic Holdings Inc. grew its holdings in Franklin Wireless by 5.5% in the fourth quarter. Osaic Holdings Inc. now owns 133,903 shares of the company’s stock valued at $585,000 after purchasing an additional 7,000 shares during the period. Founders Financial Securities LLC acquired a new position in shares of Franklin Wireless during the 4th quarter worth approximately $59,000. Smith Moore & CO. lifted its position in shares of Franklin Wireless by 14.5% during the 4th quarter. Smith Moore & CO. now owns 96,400 shares of the company’s stock valued at $421,000 after buying an additional 12,228 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in Franklin Wireless in the 2nd quarter valued at $44,000. Finally, Acadian Asset Management LLC grew its stake in Franklin Wireless by 175.5% in the 1st 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 during the period. 18.49% of the stock is owned by hedge funds and other institutional investors.

Franklin Wireless Trading Down 3.5%

NASDAQ:FKWL traded down $0.14 during midday trading on Monday, reaching $3.81. 10,843 shares of the stock traded hands, compared to its average volume of 10,080. Franklin Wireless has a 12-month low of $3.66 and a 12-month high of $7.15. The business has a 50-day moving average of $4.14 and a two-hundred day moving average of $4.39.

Franklin Wireless (NASDAQ:FKWL) last released its 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). Franklin Wireless had a negative return on equity of 0.55% and a net margin of 0.47%.The company had revenue of $11.93 million during the quarter, compared to analyst estimates of $11.93 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Franklin Wireless in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.