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

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 31,700 shares, an increase of 185.6% from the December 31st total of 11,100 shares. Based on an average daily trading volume, of 17,100 shares, the short-interest ratio is currently 1.9 days. Approximately 0.4% of the company’s shares are sold short.

Franklin Wireless Trading Down 2.1 %

Shares of NASDAQ FKWL traded down $0.11 during mid-day trading on Wednesday, reaching $5.18. 11,325 shares of the company’s stock were exchanged, compared to its average volume of 24,509. Franklin Wireless has a twelve month low of $2.69 and a twelve month high of $5.30. The business has a fifty day simple moving average of $4.61 and a 200 day simple moving average of $4.35. The firm has a market capitalization of $61.02 million, a price-to-earnings ratio of -19.43 and a beta of 0.18.

Institutional Investors Weigh In On Franklin Wireless

A hedge fund recently raised its stake in Franklin Wireless stock. Geode Capital Management LLC raised its holdings in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Wireless

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.