FGI Industries (NASDAQ:FGI) Share Price Breaks Above 50-Day Moving Average – What’s Next?

FGI Industries Ltd. (NASDAQ:FGI)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $7.79 and traded as high as $7.98. FGI Industries shares last traded at $7.81, with a volume of 8,712 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on FGI shares. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, September 21st. Benchmark reiterated a “speculative buy” rating and issued a $13.00 target price (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. Wall Street Zen raised shares of FGI Industries to a “buy” rating in a research note on Saturday, September 26th. Finally, UBS Group set a $13.00 target price on shares of FGI Industries in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.00.

FGI Industries Trading Up 2.6%

The business has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $6.02. The company has a market cap of $15.07 million, a PE ratio of -3.75 and a beta of 2.26.

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, topping analysts’ consensus estimates of $0.10 by $0.50. The business had revenue of $31.89 million during the quarter, compared to analyst estimates of $33.85 million. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. Equities analysts expect that FGI Industries Ltd. will post -0.61 EPS for the current year.

FGI Industries Company Profile

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels.

Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.

The company traces its roots to 1987 and operates as part of a vertically integrated supply network that combines product design, sourcing, manufacturing and distribution.