FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 162,848 shares, a decline of 41.6% from the May 31st total of 278,974 shares. Based on an average daily trading volume, of 103,239 shares, the short-interest ratio is currently 1.6 days. Approximately 1.2% of the company’s stock are sold short.

Institutional Trading of FBS Global

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in FBS Global by 15.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock valued at $86,000 after purchasing an additional 19,647 shares in the last quarter. Citadel Advisors LLC raised its position in FBS Global by 202.0% in the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock worth $37,000 after buying an additional 32,157 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in FBS Global during the fourth quarter valued at approximately $54,000.

FBS Global Trading Up 1.2%

Shares of NASDAQ FBGL traded up $0.01 during trading on Wednesday, reaching $0.52. The company had a trading volume of 2,534 shares, compared to its average volume of 1,075,651. FBS Global has a 12-month low of $0.34 and a 12-month high of $1.40. The business’s 50-day moving average is $0.57 and its 200 day moving average is $0.73.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of FBS Global from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.