Short Interest in Franklin Wireless Corp. (NASDAQ:FKWL) Expands By 80.2%

by · The Cerbat Gem

Franklin Wireless Corp. (NASDAQ:FKWL – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 22,700 shares, an increase of 80.2% from the September 15th total of 12,600 shares. Based on an average trading volume of 13,500 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Franklin Wireless

A hedge fund recently raised its stake in Franklin Wireless stock. Dimensional Fund Advisors LP lifted its position in shares of Franklin Wireless Corp. (NASDAQ:FKWL – Free Report) by 74.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,968 shares of the company’s stock after purchasing an additional 17,469 shares during the period. Dimensional Fund Advisors LP owned about 0.35% of Franklin Wireless worth $149,000 as of its most recent SEC filing. 18.49% of the stock is currently owned by institutional investors.

Franklin Wireless Stock Performance

NASDAQ FKWL traded up $0.04 during trading on Friday, reaching $4.33. 9,383 shares of the company’s stock were exchanged, compared to its average volume of 13,630. Franklin Wireless has a 1 year low of $2.69 and a 1 year high of $4.59. The company has a 50 day moving average price of $4.21 and a two-hundred day moving average price of $3.60. The stock has a market cap of $51.01 million, a P/E ratio of -13.12 and a beta of 0.18.

About Franklin Wireless

(Get Free Report)

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.

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