Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Down 32.6% in February

Franklin Wireless Corp. (NASDAQ:FKWL) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 26,606 shares, a decrease of 32.6% from the January 29th total of 39,481 shares. Based on an average daily volume of 7,232 shares, the short-interest ratio is currently 3.7 days. Based on an average daily volume of 7,232 shares, the short-interest ratio is currently 3.7 days.

Analysts Set New Price Targets

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

Franklin Wireless Stock Performance

Shares of NASDAQ:FKWL traded up $0.07 on Friday, hitting $3.92. The company’s stock had a trading volume of 4,613 shares, compared to its average volume of 7,629. The company has a 50-day simple moving average of $4.14 and a 200 day simple moving average of $4.39. Franklin Wireless has a 1 year low of $3.66 and a 1 year high of $7.15.

Franklin Wireless (NASDAQ:FKWL) last posted its quarterly earnings data 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). Franklin Wireless had a negative return on equity of 0.55% and a net margin of 0.47%.The company had revenue of $11.93 million during the quarter, compared to the consensus estimate of $11.93 million.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its position in Franklin Wireless by 25.2% during the second quarter. Osaic Holdings Inc. now owns 115,200 shares of the company’s stock valued at $482,000 after purchasing an additional 23,200 shares in the last quarter. Smith Moore & CO. raised its holdings in shares of Franklin Wireless by 29.0% during the 3rd quarter. Smith Moore & CO. now owns 84,172 shares of the company’s stock valued at $367,000 after buying an additional 18,900 shares in the last quarter. Acadian Asset Management LLC lifted its position in Franklin Wireless by 175.5% in the 1st quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after buying an additional 16,211 shares during the last quarter. Founders Financial Securities LLC bought a new stake in Franklin Wireless in the 4th quarter worth approximately $59,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Franklin Wireless in the first quarter worth approximately $66,000. Institutional investors own 18.49% of the company’s stock.

About Franklin Wireless

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.