Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Expands By 185.6%

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

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Geode Capital Management LLC raised its stake in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,859 shares of the company’s stock after acquiring an additional 28,052 shares during the quarter. Geode Capital Management LLC owned approximately 0.85% of Franklin Wireless worth $457,000 at the end of the most recent quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Franklin Wireless Stock Performance

Shares of NASDAQ:FKWL traded down $0.14 during trading hours on Thursday, reaching $5.08. The stock had a trading volume of 13,935 shares, compared to its average volume of 24,476. The firm’s 50 day moving average is $4.63 and its 200-day moving average is $4.35. The stock has a market capitalization of $59.80 million, a price-to-earnings ratio of -18.80 and a beta of 0.18. Franklin Wireless has a 1 year low of $2.69 and a 1 year high of $5.30.

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.