FST (NASDAQ:KBSX) Shares Down 17.6% – What’s Next?

FST Corp. (NASDAQ:KBSX) shares dropped 17.6% during trading on Thursday . The stock traded as low as $0.81 and last traded at $0.8528. Approximately 33,396 shares traded hands during trading, an increase of 97% from the average daily volume of 16,933 shares. The stock had previously closed at $1.0350.

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research began coverage on FST in a research note on Monday, May 18th. They set a “buy” rating and a $4.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.00.

FST Stock Up 10.2%

The firm has a 50-day simple moving average of $1.29 and a two-hundred day simple moving average of $1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.56. The company has a market cap of $35.48 million, a PE ratio of 93.98 and a beta of 0.31.

FST (NASDAQ:KBSX) last released its earnings results on Wednesday, April 1st. The company reported $0.04 EPS for the quarter. The business had revenue of $14.65 million during the quarter. Research analysts anticipate that FST Corp. will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FST

A hedge fund recently bought a new stake in FST stock. Geode Capital Management LLC purchased a new stake in FST Corp. (NASDAQ:KBSX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 41,123 shares of the company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 0.11% of FST at the end of the most recent quarter. 50.85% of the stock is owned by hedge funds and other institutional investors.

About FST

FST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.