FGI Industries Ltd. (NASDAQ:FGI) Short Interest Down 88.1% in August

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 44,891 shares, a decrease of 88.1% from the August 15th total of 377,797 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 156,455 shares, the days-to-cover ratio is currently 0.3 days.

FGI Industries Price Performance

Shares of NASDAQ:FGI traded up $0.73 on Thursday, reaching $8.46. 34,850 shares of the company traded hands, compared to its average volume of 5,357,463. FGI Industries has a fifty-two week low of $3.14 and a fifty-two week high of $19.93. The company’s 50 day moving average is $5.96 and its 200-day moving average is $5.46. The stock has a market capitalization of $16.33 million, a PE ratio of 9.31 and a beta of 2.29.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on FGI. Wall Street Zen lowered FGI Industries from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. UBS Group set a $13.00 price target on shares of FGI Industries in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. Benchmark restated a “speculative buy” rating and set a $13.00 price objective (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. Finally, Zacks Research cut shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

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.