Founder Group Limited (NASDAQ:FGL) Shares Shorted: Short Interest Down 41.9% in September

Founder Group Limited (NASDAQ:FGL) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 11,803 shares, a decrease of 41.9% from the September 15th total of 20,308 shares. Based on an average daily trading volume, of 142,944 shares, the short-interest ratio is currently 0.1 days. Approximately 59.0% of the company’s shares are sold short.

Founder Group Price Performance

NASDAQ:FGL traded down $1.37 on Friday, hitting $3.06. The company’s stock had a trading volume of 90,213 shares, compared to its average volume of 77,834. Founder Group has a one year low of $3.05 and a one year high of $7,071.00. The stock has a fifty day moving average of $16.20 and a two-hundred day moving average of $115.12.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Founder Group to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Founder Group in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt sold 395,774 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $0.15, for a total value of $59,366.10. Following the sale, the insider directly owned 66,805 shares of the company’s stock, valued at approximately $10,020.75. The trade was a 85.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have purchased 108,927 shares of company stock worth $59,482 and have sold 397,398 shares worth $111,231. Company insiders own 0.60% of the company’s stock.

About Founder Group

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities principally in Malaysia. The company’s primary focus is large-scale solar projects and commercial and industrial solar projects. Founder Group Limited is based in KUALA LUMPUR, Malaysia.