FGI Industries (NASDAQ:FGI) Stock Crosses Above Fifty Day Moving Average – Here’s Why

FGI Industries Ltd. (NASDAQ:FGI) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $7.81 and traded as high as $7.93. FGI Industries shares last traded at $7.93, with a volume of 5,062 shares traded.

Analysts Set New Price Targets

Several research analysts have issued reports on FGI shares. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, September 21st. UBS Group set a $13.00 price target on FGI Industries in a report on Friday, August 14th. Wall Street Zen upgraded FGI Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Finally, Benchmark reissued a “speculative buy” rating and set a $13.00 price target (up from $8.00) on shares of FGI Industries in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.00.

FGI Industries Price Performance

The stock’s fifty day moving average price is $7.83 and its 200 day moving average price is $6.06. The stock has a market capitalization of $12.16 million, a P/E ratio of 24.76 and a beta of 2.26.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.33). FGI Industries had a positive return on equity of 4.31% and a negative net margin of 2.61%. The company had revenue of $31.69 million during the quarter, compared to analysts’ expectations of $37.41 million. On average, sell-side analysts expect that FGI Industries Ltd. will post -0.61 earnings per share for the current year.

FGI Industries Company Profile

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.