FBS Global Limited (NASDAQ:FBGL) Shares Shorted: Short Interest Up 120.4% in October

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 62,738 shares, a growth of 120.4% from the September 30th total of 28,469 shares. Based on an average daily trading volume, of 337,273 shares, the short-interest ratio is currently 0.2 days. Approximately 4.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut FBS Global from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

FBS Global Trading Up 4.9%

Shares of NASDAQ:FBGL traded up $0.10 during trading on Friday, reaching $2.25. The stock had a trading volume of 10,558 shares, compared to its average volume of 191,869. FBS Global has a 52 week low of $2.04 and a 52 week high of $14.00. The firm’s fifty day moving average is $3.50 and its 200 day moving average is $5.78.

Institutional Trading of FBS Global

A hedge fund recently raised its position in FBS Global stock. Renaissance Technologies LLC grew its holdings in shares of FBS Global Limited (NASDAQ:FBGL) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,492 shares of the company’s stock after acquiring an additional 19,647 shares during the period. Renaissance Technologies LLC owned 1.07% of FBS Global worth $86,000 as of its most recent SEC filing.

FBS Global Company Profile

FBS Global Limited is a food and beverage waste management and recycling company with operations in Singapore. The company provides services designed to help food and beverage businesses manage waste more efficiently, including the collection, processing and recycling of food-related waste.

Its services are intended for customers such as restaurants, food manufacturers, hotels, institutions and other commercial establishments that generate food waste. By treating and repurposing collected waste, FBS Global supports waste diversion and the development of more circular resource-use practices.

FBS Global Limited is organized as a holding company and conducts its operating activities through subsidiaries.