Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Down 15.8% in March

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

Wall Street Analyst Weigh In

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

Franklin Wireless Stock Performance

Shares of NASDAQ FKWL opened at $3.76 on Monday. The business has a 50-day moving average of $3.93 and a 200-day moving average of $4.32. The firm has a market capitalization of $44.29 million, a price-to-earnings ratio of 188.09 and a beta of 0.23. Franklin Wireless has a 12 month low of $3.52 and a 12 month high of $6.15.

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

Institutional Trading of Franklin Wireless

A number of hedge funds have recently made changes to their positions in FKWL. Evergreen Capital Management LLC purchased a new position in Franklin Wireless in the second quarter worth $44,000. Founders Financial Securities LLC purchased a new stake in Franklin Wireless during the fourth quarter valued at about $59,000. Goldman Sachs Group Inc. bought a new stake in Franklin Wireless during the first quarter worth about $66,000. Acadian Asset Management LLC lifted its stake in Franklin Wireless by 175.5% during the first quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after purchasing an additional 16,211 shares during the last quarter. Finally, Smith Moore & CO. boosted its holdings in shares of Franklin Wireless by 29.0% in the 3rd quarter. Smith Moore & CO. now owns 84,172 shares of the company’s stock worth $367,000 after purchasing an additional 18,900 shares in the last quarter. 18.49% of the stock is owned by institutional investors.

About Franklin Wireless

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.