Franklin Wireless Corp. (NASDAQ:FKWL) Short Interest Up 185.6% in January

Franklin Wireless Corp. (NASDAQ:FKWL) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 31,700 shares, an increase 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 currently 1.9 days. Approximately 0.4% of the shares of the company are sold short.

Franklin Wireless Stock Down 2.1 %

Shares of FKWL traded down $0.11 during mid-day trading on Wednesday, hitting $5.18. 11,325 shares of the company’s stock were exchanged, compared to its average volume of 24,509. The firm has a market cap of $61.02 million, a price-to-earnings ratio of -19.43 and a beta of 0.18. The stock’s 50-day simple moving average is $4.61 and its 200-day simple moving average is $4.35. Franklin Wireless has a 52 week low of $2.69 and a 52 week high of $5.30.

Hedge Funds Weigh In On Franklin Wireless

An institutional investor recently raised its position in Franklin Wireless stock. Dimensional Fund Advisors LP grew its position in Franklin Wireless Corp. (NASDAQ:FKWL) by 74.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,968 shares of the company’s stock after acquiring an additional 17,469 shares during the period. Dimensional Fund Advisors LP owned 0.35% of Franklin Wireless worth $149,000 as of its most recent filing with the SEC. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Wireless

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.