FGI Industries Ltd. (NASDAQ:FGI) Short Interest Up 222.6% in April

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 72,380 shares, an increase of 222.6% from the April 15th total of 22,434 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average trading volume of 538,476 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

FGI has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Friday, March 27th. Zacks Research upgraded shares of FGI Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

FGI Industries Stock Down 14.4%

NASDAQ:FGI traded down $0.77 on Friday, reaching $4.58. The stock had a trading volume of 73,746 shares, compared to its average volume of 329,135. The company has a market capitalization of $8.83 million, a P/E ratio of -1.36 and a beta of 2.22. FGI Industries has a 1-year low of $2.50 and a 1-year high of $12.62. The stock has a fifty day moving average price of $5.15 and a 200-day moving average price of $5.71.

FGI Industries (NASDAQ:FGI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.27). The firm had revenue of $30.50 million during the quarter, compared to analyst estimates of $33.36 million. FGI Industries had a negative net margin of 5.07% and a negative return on equity of 4.32%. Sell-side analysts predict that FGI Industries will post -0.27 earnings per share for the current fiscal year.

About FGI Industries

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.