FBS Global Limited (NASDAQ:FBGL) Short Interest Down 45.8% in April

FBS Global Limited (NASDAQ:FBGL) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 642,527 shares, a decline of 45.8% from the April 15th total of 1,185,312 shares. Based on an average daily volume of 163,750 shares, the days-to-cover ratio is presently 3.9 days. Currently, 4.8% of the shares of the company are short sold.

Institutional Investors Weigh In On FBS Global

A number of institutional investors have recently added to or reduced their stakes in FBGL. Citadel Advisors LLC boosted its holdings in FBS Global by 202.0% in the 3rd 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 in the last quarter. Jane Street Group LLC purchased a new stake in FBS Global in the 4th quarter valued at approximately $54,000. Finally, Renaissance Technologies LLC boosted its holdings in FBS Global by 15.7% in the 1st quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock valued at $86,000 after purchasing an additional 19,647 shares in the last quarter.

FBS Global Price Performance

FBGL traded up $0.00 during trading on Friday, reaching $0.54. The company’s stock had a trading volume of 13,047 shares, compared to its average volume of 158,728. FBS Global has a 52-week low of $0.34 and a 52-week high of $1.40. The company’s fifty day moving average price is $0.60 and its 200-day moving average price is $0.75.

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.