FGI Industries Ltd. (NASDAQ:FGI) Sees Large Drop in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 22,558 shares, a drop of 31.3% from the December 15th total of 32,831 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 57,287 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 57,287 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.2% of the shares of the company are short sold.

FGI Industries Trading Up 2.7%

NASDAQ FGI traded up $0.17 during trading hours on Friday, hitting $6.48. 22,588 shares of the company’s stock were exchanged, compared to its average volume of 27,187. The firm has a market cap of $12.44 million, a price-to-earnings ratio of -3.16 and a beta of 1.43. FGI Industries has a 1-year low of $2.28 and a 1-year high of $12.62. The stock has a 50-day simple moving average of $6.24 and a 200 day simple moving average of $5.30.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.56. FGI Industries had a negative return on equity of 2.50% and a negative net margin of 2.89%.The business had revenue of $35.85 million for the quarter, compared to the consensus estimate of $37.70 million. On average, sell-side analysts anticipate that FGI Industries will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FGI has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FGI Industries in a research note on Monday, December 29th. Zacks Research downgraded shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Wall Street Zen raised FGI Industries to a “sell” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FGI Industries presently has an average rating of “Reduce”.

About FGI Industries

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, Europe, and internationally. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.