FBS Global Limited (NASDAQ:FBGL) Sees Significant Increase in Short Interest

FBS Global Limited (NASDAQ:FBGL) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 225,354 shares, a growth of 174.4% from the December 31st total of 82,132 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 3,087,666 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 3,087,666 shares, the short-interest ratio is currently 0.1 days. Approximately 1.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FBGL. Weiss Ratings restated a “sell (d-)” rating on shares of FBS Global in a research report on Monday, December 29th. Wall Street Zen upgraded shares of FBS Global to a “hold” rating in a research report on Saturday, November 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On FBS Global

An institutional investor recently raised its position in FBS Global stock. Citadel Advisors LLC increased its position in FBS Global Limited (NASDAQ:FBGL) by 202.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,077 shares of the company’s stock after purchasing an additional 32,157 shares during the period. Citadel Advisors LLC owned approximately 0.36% of FBS Global worth $37,000 at the end of the most recent reporting period.

FBS Global Stock Down 0.3%

Shares of FBS Global stock traded down $0.00 during trading on Thursday, hitting $0.85. The company’s stock had a trading volume of 2,307,482 shares, compared to its average volume of 2,987,640. FBS Global has a 52 week low of $0.41 and a 52 week high of $5.45. The company has a fifty day simple moving average of $0.83 and a two-hundred day simple moving average of $0.69.

FBS Global (NASDAQ:FBGL) last announced its earnings results on Friday, October 17th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $3.09 million for the quarter.

FBS Global Company Profile

The predecessor of our principal operating company was incorporated on March 9, 1996 in Singapore under the name Finebuild Systems Pte Ltd. Pursuant to a restructuring that took effect on August 2, 2022, FBS Global Limited, an exempted company incorporated in the Cayman Islands, through its wholly owned subsidiary, Success Elite Developments Limited, a company incorporated in BVI, became the ultimate holding company of our current principal operating subsidiary referred to herein as FBS SG. From its beginning as a construction company since 1996, FBS SG has developed into a premier integrated engineering company that provides a full suite of construction and engineering services.