FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 40,539 shares, a decline of 66.1% from the July 15th total of 119,735 shares. Based on an average trading volume of 129,851 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded FBS Global from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FBS Global currently has an average rating of “Sell”.

Institutional Investors Weigh In On FBS Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of FBS Global during the 4th quarter worth about $121,000. Jane Street Group LLC purchased a new stake in FBS Global in the 4th quarter worth about $54,000. Finally, Citadel Advisors LLC lifted its stake in FBS Global by 202.0% in the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock worth $37,000 after purchasing an additional 32,157 shares during the last quarter.

FBS Global Stock Performance

NASDAQ:FBGL traded down $0.00 during midday trading on Friday, hitting $0.40. 8,940 shares of the company traded hands, compared to its average volume of 197,114. The firm’s fifty day moving average is $0.53 and its 200-day moving average is $0.65. FBS Global has a 12-month low of $0.34 and a 12-month high of $1.40.

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.