FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 40,539 shares, a decline of 66.1% from the July 15th total of 119,735 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 129,851 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FBGL. Renaissance Technologies LLC boosted its position in shares of FBS Global by 15.7% in the first quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock worth $86,000 after buying an additional 19,647 shares during the period. Citadel Advisors LLC raised its holdings in shares of FBS Global by 202.0% during the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after buying an additional 32,157 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of FBS Global during the 4th quarter valued at about $54,000.

FBS Global Stock Performance

Shares of NASDAQ:FBGL traded down $0.00 during midday trading on Friday, hitting $0.40. 8,940 shares of the company’s stock traded hands, compared to its average volume of 197,114. The firm’s fifty day moving average price is $0.53 and its two-hundred day moving average price is $0.65. FBS Global has a twelve month low of $0.34 and a twelve month high of $1.40.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of FBS Global from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus 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.