FBS Global Limited (NASDAQ:FBGL) Sees Large Growth in Short Interest

FBS Global Limited (NASDAQ:FBGL) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 225,354 shares, an increase of 174.4% from the December 31st total of 82,132 shares. Based on an average trading volume of 3,087,666 shares, the short-interest ratio is currently 0.1 days. Approximately 1.7% of the company’s stock are sold short. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 3,087,666 shares, the short-interest ratio is currently 0.1 days.

FBS Global Stock Performance

Shares of NASDAQ FBGL traded down $0.00 during midday trading on Thursday, hitting $0.85. The company’s stock had a trading volume of 2,307,482 shares, compared to its average volume of 2,987,640. The stock has a fifty day moving average price of $0.83 and a 200 day moving average price of $0.69. FBS Global has a one year low of $0.41 and a one year high of $5.45.

FBS Global (NASDAQ:FBGL) last released its quarterly earnings data on Friday, October 17th. The company reported $0.01 EPS for the quarter. The firm had revenue of $3.09 million during the quarter.

Institutional Investors Weigh In On FBS Global

An institutional investor recently raised its position in FBS Global stock. Citadel Advisors LLC lifted its holdings in shares of FBS Global Limited (NASDAQ:FBGL) by 202.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 48,077 shares of the company’s stock after purchasing an additional 32,157 shares during the period. Citadel Advisors LLC owned about 0.36% of FBS Global worth $37,000 as of its most recent filing with the SEC.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of FBS Global in a report on Monday, December 29th. Wall Street Zen upgraded shares of FBS Global to a “hold” rating in a research note on Saturday, November 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

About FBS Global

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.