FBS Global Limited (NASDAQ:FBGL) Sees Large Increase in Short Interest

FBS Global Limited (NASDAQ:FBGL) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 82,132 shares, an increase of 45.9% from the December 15th total of 56,295 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.6% of the company’s stock are sold short.

Institutional Investors Weigh In On FBS Global

An institutional investor recently raised its position in FBS Global stock. Citadel Advisors LLC raised its holdings in FBS Global Limited (NASDAQ:FBGL) by 202.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,077 shares of the company’s stock after acquiring an additional 32,157 shares during the quarter. Citadel Advisors LLC owned approximately 0.36% of FBS Global worth $37,000 as of its most recent SEC filing.

Analysts Set New Price Targets

Several brokerages recently commented on FBGL. Wall Street Zen upgraded shares of FBS Global to a “hold” rating in a report on Saturday, November 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of FBS Global in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

FBS Global Stock Performance

Shares of NASDAQ FBGL traded down $0.04 during midday trading on Friday, hitting $0.84. 2,859,306 shares of the company’s stock were exchanged, compared to its average volume of 2,609,370. FBS Global has a 12 month low of $0.41 and a 12 month high of $5.45. The company’s 50 day moving average price is $0.79 and its 200 day moving average price is $0.68.

FBS Global (NASDAQ:FBGL) last issued its quarterly earnings data on Friday, October 17th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $3.09 million during 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.