FGI Industries Ltd. (NASDAQ:FGI) Short Interest Up 1,671.2% in August

FGI Industries Ltd. (NASDAQ:FGI) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 377,797 shares, a growth of 1,671.2% from the July 30th total of 21,330 shares. Based on an average daily trading volume, of 10,427,010 shares, the days-to-cover ratio is presently 0.0 days. Currently, 20.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research firms recently commented on FGI. Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. UBS Group set a $13.00 target price on FGI Industries in a research report on Friday, August 14th. Zacks Research downgraded FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Wall Street Zen lowered FGI Industries from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Benchmark reissued a “speculative buy” rating and issued a $13.00 price target (up from $8.00) on shares of FGI Industries in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.

FGI Industries Stock Up 11.1%

FGI opened at $7.80 on Wednesday. FGI Industries has a twelve month low of $3.14 and a twelve month high of $19.93. The company has a fifty day moving average of $5.24 and a 200-day moving average of $5.32. The stock has a market cap of $15.05 million, a PE ratio of -3.75 and a beta of 2.20.

FGI Industries (NASDAQ:FGI) last released its earnings results on Wednesday, August 12th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.50. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. The business had revenue of $31.89 million for the quarter, compared to analyst estimates of $33.85 million. Sell-side analysts anticipate that FGI Industries will post -0.61 EPS for the current fiscal year.

About FGI Industries

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.