FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 225,354 shares, a growth of 174.4% from the December 31st total of 82,132 shares. Based on an average trading volume of 3,087,666 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.7% of the shares of the company are sold short. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 3,087,666 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On FBS Global

A hedge fund recently raised its stake in FBS Global stock. Citadel Advisors LLC lifted its position in FBS Global Limited (NASDAQ:FBGL) by 202.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,077 shares of the company’s stock after buying an additional 32,157 shares during the period. Citadel Advisors LLC owned about 0.36% of FBS Global worth $37,000 as of its most recent SEC filing.

Analyst Ratings Changes

FBGL has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FBS Global in a report on Monday, December 29th. Wall Street Zen raised shares of FBS Global to a “hold” rating in a research report on Saturday, November 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

FBS Global Stock Down 2.4%

FBS Global stock opened at $0.83 on Friday. The stock has a 50-day simple moving average of $0.84 and a 200 day simple moving average of $0.70. FBS Global has a 12-month low of $0.41 and a 12-month high of $5.45.

FBS Global (NASDAQ:FBGL) last released its quarterly earnings results on Friday, October 17th. The company reported $0.01 EPS for the quarter. The company had revenue of $3.09 million for the quarter.

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.