FBS Global Limited (NASDAQ:FBGL) Shares Shorted: Short Interest Up 120.4% in October

FBS Global Limited (NASDAQ:FBGL) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 62,738 shares, a growth of 120.4% from the September 30th total of 28,469 shares. Based on an average daily volume of 337,273 shares, the short-interest ratio is currently 0.2 days. Currently, 4.6% of the company’s shares are sold short.

Hedge Funds Weigh In On FBS Global

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

FBS Global Stock Up 4.9%

Shares of FBS Global stock traded up $0.10 during trading on Friday, reaching $2.25. 10,558 shares of the company traded hands, compared to its average volume of 191,869. FBS Global has a 1-year low of $2.04 and a 1-year high of $14.00. The company has a 50 day moving average price of $3.50 and a 200-day moving average price of $5.78.

Analyst Ratings Changes

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

About FBS Global

FBS Global Limited is a food and beverage waste management and recycling company with operations in Singapore. The company provides services designed to help food and beverage businesses manage waste more efficiently, including the collection, processing and recycling of food-related waste.

Its services are intended for customers such as restaurants, food manufacturers, hotels, institutions and other commercial establishments that generate food waste. By treating and repurposing collected waste, FBS Global supports waste diversion and the development of more circular resource-use practices.

FBS Global Limited is organized as a holding company and conducts its operating activities through subsidiaries.