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

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 20,821 shares, a decrease of 15.8% from the February 26th total of 24,718 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 7,380 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

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

Franklin Wireless Price Performance

Franklin Wireless stock opened at $3.76 on Monday. Franklin Wireless has a one year low of $3.52 and a one year high of $6.15. The business has a fifty day moving average price of $3.93 and a 200-day moving average price of $4.32. The firm has a market capitalization of $44.29 million, a P/E ratio of 188.09 and a beta of 0.23.

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

Institutional Investors Weigh In On Franklin Wireless

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Wireless in the first quarter worth about $66,000. Acadian Asset Management LLC grew 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 valued at $144,000 after acquiring an additional 16,211 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Franklin Wireless during the second quarter valued at approximately $44,000. Osaic Holdings Inc. increased its holdings in Franklin Wireless by 25.2% during the 2nd quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock worth $482,000 after acquiring an additional 23,200 shares during the period. Finally, Smith Moore & CO. lifted its stake in 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 currently owned by institutional investors.

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.