FGI Industries Ltd. (NASDAQ:FGI) Sees Significant Increase in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 377,797 shares, an increase of 1,671.2% from the July 30th total of 21,330 shares. Based on an average daily volume of 10,427,010 shares, the short-interest ratio is presently 0.0 days. Approximately 20.0% of the shares of the stock are short sold.

FGI Industries Stock Performance

FGI Industries stock opened at $7.54 on Thursday. FGI Industries has a fifty-two week low of $3.14 and a fifty-two week high of $19.93. The stock has a market cap of $14.55 million, a P/E ratio of -3.62 and a beta of 2.20. The firm’s fifty day moving average price is $5.30 and its 200-day moving average price is $5.33.

FGI Industries (NASDAQ:FGI) last announced its earnings results on Wednesday, August 12th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.50. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. The company had revenue of $31.89 million during the quarter, compared to analyst estimates of $33.85 million. On average, analysts predict that FGI Industries will post -0.61 earnings per share for the current year.

Wall Street Analyst Weigh In

FGI has been the topic of several research analyst reports. Benchmark reaffirmed a “speculative buy” rating and issued a $13.00 price target (up from $8.00) on shares of FGI Industries in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. Wall Street Zen lowered FGI Industries from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Zacks Research cut FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, UBS Group set a $13.00 price target on FGI Industries in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.00.

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.