FBS Global Limited (NASDAQ:FBGL) Shares Shorted: Short Interest Down 51.1% in September

FBS Global Limited (NASDAQ:FBGL) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 28,469 shares, a drop of 51.1% from the September 15th total of 58,237 shares. Based on an average daily volume of 921,143 shares, the days-to-cover ratio is currently 0.0 days. Approximately 2.1% of the company’s stock are sold short.

Institutional Investors Weigh In On FBS Global

A hedge fund recently raised its stake in FBS Global stock. Renaissance Technologies LLC raised its stake in FBS Global Limited (NASDAQ:FBGL) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,492 shares of the company’s stock after acquiring an additional 19,647 shares during the period. Renaissance Technologies LLC owned 1.07% of FBS Global worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered FBS Global from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, September 28th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

FBS Global Stock Down 32.2%

Shares of NASDAQ:FBGL traded down $1.13 during trading on Wednesday, hitting $2.38. 165,380 shares of the company were exchanged, compared to its average volume of 151,433. The firm’s 50 day moving average price is $3.93 and its 200-day moving average price is $5.12. FBS Global has a 12-month low of $2.31 and a 12-month high of $14.00.

FBS Global Company Profile

FBS Global Limited is a Singapore-based food and beverage company that operates through subsidiaries serving the local dining and catering market. The company’s activities include restaurant operations and the provision of food and beverage services.

Its business is focused on preparing and selling food and beverages to consumers, as well as providing related catering services. The company’s operations are primarily associated with Singapore.

FBS Global Limited is incorporated as a holding company, with its operating activities conducted through subsidiaries.