Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Drops By 6.1%

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 18,400 shares, a decline of 6.1% from the October 31st total of 19,600 shares. Based on an average daily volume of 11,600 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Dimensional Fund Advisors LP grew its holdings in Franklin Wireless Corp. (NASDAQ:FKWL) by 74.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,968 shares of the company’s stock after purchasing an additional 17,469 shares during the quarter. Dimensional Fund Advisors LP owned about 0.35% of Franklin Wireless worth $149,000 as of its most recent SEC filing. Institutional investors own 18.49% of the company’s stock.

Franklin Wireless Price Performance

NASDAQ FKWL traded up $0.11 during trading hours on Tuesday, reaching $4.36. The stock had a trading volume of 4,030 shares, compared to its average volume of 13,545. Franklin Wireless has a 52-week low of $2.69 and a 52-week high of $4.59. The stock has a fifty day moving average of $4.30 and a 200 day moving average of $3.93.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings results on Monday, September 30th. The company reported ($0.15) EPS for the quarter. Franklin Wireless had a negative net margin of 9.26% and a negative return on equity of 8.43%. The firm had revenue of $6.12 million for the quarter.

Franklin Wireless Company Profile

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.