Short Interest in FBS Global Limited (NASDAQ:FBGL) Drops By 51.2%

FBS Global Limited (NASDAQ:FBGL) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 109,863 shares, a decline of 51.2% from the January 15th total of 225,354 shares. Based on an average daily trading volume, of 2,812,268 shares, the short-interest ratio is presently 0.0 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,812,268 shares, the short-interest ratio is presently 0.0 days.

FBS Global Trading Down 4.2%

NASDAQ:FBGL traded down $0.05 on Friday, hitting $1.13. The stock had a trading volume of 1,372,691 shares, compared to its average volume of 2,718,214. FBS Global has a 1 year low of $0.41 and a 1 year high of $1.90. The firm’s fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $0.71.

FBS Global (NASDAQ:FBGL) last announced its earnings results on Friday, October 17th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $3.09 million during the quarter.

Hedge Funds Weigh In On FBS Global

Several institutional investors have recently bought and sold shares of FBGL. Citadel Advisors LLC grew its holdings in FBS Global by 202.0% during the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after purchasing an additional 32,157 shares during the period. Renaissance Technologies LLC bought a new stake in shares of FBS Global in the fourth quarter valued at $121,000. Finally, Jane Street Group LLC purchased a new position in shares of FBS Global during the 4th quarter valued at $54,000.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FBGL. Wall Street Zen raised shares of FBS Global to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of FBS Global in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

FBS Global Company Profile

The predecessor of our principal operating company was incorporated on March 9, 1996 in Singapore under the name Finebuild Systems Pte Ltd. Pursuant to a restructuring that took effect on August 2, 2022, FBS Global Limited, an exempted company incorporated in the Cayman Islands, through its wholly owned subsidiary, Success Elite Developments Limited, a company incorporated in BVI, became the ultimate holding company of our current principal operating subsidiary referred to herein as FBS SG. From its beginning as a construction company since 1996, FBS SG has developed into a premier integrated engineering company that provides a full suite of construction and engineering services.