FGI Industries Ltd. (NASDAQ:FGI) Sees Significant Decline in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 12,798 shares, a drop of 61.1% from the June 15th total of 32,864 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 30,324 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen lowered FGI Industries from a “hold” rating to a “sell” rating in a research note on Sunday. Zacks Research downgraded FGI Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

FGI Industries Trading Up 3.0%

NASDAQ FGI traded up $0.14 on Wednesday, reaching $4.88. 12,714 shares of the stock were exchanged, compared to its average volume of 106,067. FGI Industries has a one year low of $3.14 and a one year high of $12.62. The firm has a market capitalization of $9.42 million, a PE ratio of -1.45 and a beta of 2.21. The company’s 50-day simple moving average is $5.22 and its two-hundred day simple moving average is $5.41.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.27). The firm had revenue of $30.50 million during the quarter, compared to the consensus estimate of $33.36 million. FGI Industries had a negative return on equity of 4.56% and a negative net margin of 5.07%. Sell-side analysts forecast that FGI Industries will post -0.61 earnings per share for the current fiscal year.

FGI Industries Company Profile

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, Europe, and internationally. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.