Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Up 122.4% in January

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 39,481 shares, an increase of 122.4% from the January 15th total of 17,751 shares. Based on an average daily trading volume, of 8,184 shares, the days-to-cover ratio is presently 4.8 days. Based on an average daily trading volume, of 8,184 shares, the days-to-cover ratio is presently 4.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Evergreen Capital Management LLC bought a new stake in Franklin Wireless during the second quarter worth about $44,000. Goldman Sachs Group Inc. acquired a new position in shares of Franklin Wireless in the 1st quarter valued at approximately $66,000. Founders Financial Securities LLC acquired a new position in shares of Franklin Wireless in the 4th quarter valued at approximately $59,000. Acadian Asset Management LLC lifted its holdings in shares of Franklin Wireless by 175.5% during the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after acquiring an additional 16,211 shares during the period. Finally, Ritholtz Wealth Management boosted its position in shares of Franklin Wireless by 101.0% during the 2nd quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock worth $145,000 after acquiring an additional 17,466 shares in the last quarter. Institutional investors own 18.49% of the company’s stock.

Franklin Wireless Stock Performance

NASDAQ FKWL traded up $0.01 on Friday, reaching $4.07. The stock had a trading volume of 4,672 shares, compared to its average volume of 10,446. The firm has a fifty day moving average of $4.24 and a two-hundred day moving average of $4.37. Franklin Wireless has a 1-year low of $3.66 and a 1-year high of $7.45.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings results on Friday, November 14th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.14. Franklin Wireless had a negative net margin of 0.26% and a negative return on equity of 0.31%. The business had revenue of $12.74 million for the quarter, compared to analyst estimates of $7.20 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 assigned a Sell rating to the company. According to MarketBeat, Franklin Wireless presently has an average rating of “Hold” and a consensus target price 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.