Founder Group Limited (NASDAQ:FGL) Stock Short Interest Jumps 167.6%

Founder Group Limited (NASDAQ:FGL) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 28,526 shares, an increase of 167.6% from the October 15th total of 10,661 shares. Approximately 142.6% of the shares of the company are short sold. Based on an average trading volume of 922,727 shares, the short-interest ratio is presently 0.0 days.

Insider Activity at Founder Group

In other news, major shareholder Financial Lp Hrt sold 395,774 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $0.15, for a total transaction of $59,366.10. Following the sale, the insider directly owned 66,805 shares in the company, valued at approximately $10,020.75. This represents a 85.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders purchased 108,927 shares of company stock worth $59,482 and sold 397,398 shares worth $111,231. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

FGL has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Founder Group in a research note on Monday, August 3rd. Wall Street Zen raised shares of Founder Group to a “hold” rating in a report on Saturday, September 5th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Founder Group Trading Down 4.3%

Shares of FGL stock opened at $1.10 on Friday. Founder Group has a 1 year low of $0.90 and a 1 year high of $4,889.00. The stock has a fifty day moving average of $3.74 and a two-hundred day moving average of $281.85.

Founder Group (NASDAQ:FGL) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $10.16 million during the quarter.

About Founder Group

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities principally in Malaysia. The company’s primary focus is large-scale solar projects and commercial and industrial solar projects. Founder Group Limited is based in KUALA LUMPUR, Malaysia.