Franklin Wireless Corp. (NASDAQ:FKWL) Sees Significant Increase in Short Interest

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 31,700 shares, an increase of 185.6% from the December 15th total of 11,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 17,100 shares, the short-interest ratio is presently 1.9 days.

Franklin Wireless Price Performance

Shares of FKWL opened at $4.95 on Tuesday. Franklin Wireless has a 1 year low of $2.69 and a 1 year high of $5.09. The stock’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $4.23. The firm has a market cap of $58.33 million, a PE ratio of -18.33 and a beta of 0.18.

Institutional Investors Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Dimensional Fund Advisors LP raised its holdings in Franklin Wireless Corp. (NASDAQ:FKWL) by 74.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & 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 0.35% of Franklin Wireless worth $149,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.