FBS Global Limited (NASDAQ:FBGL) Short Interest Down 47.2% in May

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 339,417 shares, a decrease of 47.2% from the April 30th total of 642,527 shares. Based on an average daily volume of 132,507 shares, the short-interest ratio is presently 2.6 days. Currently, 2.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of FBS Global in a research report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

FBS Global Stock Performance

Shares of NASDAQ FBGL traded up $0.04 during trading hours on Monday, hitting $0.62. 27,572 shares of the stock were exchanged, compared to its average volume of 1,281,212. FBS Global has a 1-year low of $0.34 and a 1-year high of $1.40. The company’s fifty day simple moving average is $0.61 and its two-hundred day simple moving average is $0.75.

Institutional Trading of FBS Global

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in FBS Global in the fourth quarter valued at approximately $54,000. Renaissance Technologies LLC acquired a new stake in FBS Global in the fourth quarter valued at approximately $121,000. Finally, Citadel Advisors LLC boosted its position in FBS Global by 202.0% in the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after buying an additional 32,157 shares in the last quarter.

FBS Global Company Profile

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.