Founder Group (NASDAQ:FGL) Stock to Reverse Split on Tuesday, September 1st

Founder Group Limited (NASDAQ:FGL) shares are going to reverse split before the market opens on Tuesday, September 1st. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 31st.

Founder Group Stock Down 13.8%

NASDAQ FGL traded down $0.02 during trading hours on Friday, reaching $0.15. The company’s stock had a trading volume of 25,921,862 shares, compared to its average volume of 1,589,278. The firm’s 50-day moving average price is $0.96 and its 200-day moving average price is $3.22. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.59. Founder Group has a 1 year low of $0.12 and a 1 year high of $140.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Founder Group in a research report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Insider Activity at Founder Group

In other news, major shareholder Financial Lp Hrt sold 146,713 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $0.33, for a total transaction of $48,415.29. Following the completion of the transaction, the insider owned 41,361 shares in the company, valued at $13,649.13. This trade represents a 78.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have bought 185,191 shares of company stock worth $42,373. 0.60% of the stock is owned by corporate insiders.

About Founder Group

Founder Group is a diversified investment holding company originally established in 1986 by Peking University. The group traces its roots to one of China’s leading academic institutions and has since evolved into a state-owned enterprise focused on fostering innovation and technology commercialization. Leveraging its academic heritage, Founder Group has built a network of subsidiaries and affiliates across a range of high-growth industries.

The company’s main business activities span information technology and digital printing, including integrated circuit design, software development and advanced printing solutions.