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

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large growth in short interest in 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. Based on an average daily trading volume, of 17,100 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.4% of the shares of the stock are sold short.

Franklin Wireless Price Performance

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

Institutional Trading of Franklin Wireless

A hedge fund recently raised its stake in Franklin Wireless stock. Geode Capital Management LLC grew its stake in Franklin Wireless Corp. (NASDAQ:FKWL) by 39.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,859 shares of the company’s stock after acquiring an additional 28,052 shares during the quarter. Geode Capital Management LLC owned about 0.85% of Franklin Wireless worth $457,000 at the end of the most recent quarter. 18.49% of the stock is owned by institutional investors.

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.