FBS Global Stock Scheduled to Reverse Split on Monday, September 28th (NASDAQ:FBGL)

FBS Global Limited (NASDAQ:FBGL)’s stock is going to reverse split on the morning of Monday, September 28th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.

FBS Global Trading Down 7.9%

Shares of NASDAQ:FBGL traded down $0.03 during trading on Thursday, hitting $0.37. 2,523,699 shares of the company’s stock traded hands, compared to its average volume of 1,425,264. The company has a 50-day moving average price of $0.44 and a 200-day moving average price of $0.54. FBS Global has a 52 week low of $0.34 and a 52 week high of $1.40.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of FBS Global from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FBS Global has a consensus rating of “Sell”.

Institutional Trading of FBS Global

A hedge fund recently raised its stake in FBS Global stock. Renaissance Technologies LLC grew its holdings in shares of FBS Global Limited (NASDAQ:FBGL) by 15.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,492 shares of the company’s stock after buying an additional 19,647 shares during the quarter. Renaissance Technologies LLC owned approximately 1.07% of FBS Global worth $86,000 at the end of the most recent reporting period.

FBS Global Company Profile

FBS Global Limited is a Singapore-based food and beverage company focused on the distribution and supply of food products and ingredients. The company serves business customers in the foodservice sector, including restaurants, hotels, caterers and other commercial food operators.

Its activities include sourcing food products from suppliers and providing procurement and distribution services designed to support customers’ food and beverage operations. The company’s business is primarily oriented toward the business-to-business market rather than direct retail sales.

FBS Global operates through its Singapore-centered business and serves customers in the broader foodservice industry.