FGI Industries Ltd. (NASDAQ:FGI) Short Interest Down 88.1% in August

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 44,891 shares, a drop of 88.1% from the August 15th total of 377,797 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 156,455 shares, the short-interest ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of FGI Industries from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Zacks Research cut shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. UBS Group set a $13.00 target price on FGI Industries in a report on Friday, August 14th. Finally, Benchmark restated a “speculative buy” rating and issued a $13.00 target price (up from $8.00) on shares of FGI Industries in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.00.

FGI Industries Trading Up 9.4%

NASDAQ:FGI traded up $0.73 on Thursday, hitting $8.46. 34,850 shares of the company’s stock traded hands, compared to its average volume of 5,357,463. FGI Industries has a 1 year low of $3.14 and a 1 year high of $19.93. The firm has a 50-day moving average price of $5.96 and a 200-day moving average price of $5.46. The company has a market cap of $16.33 million, a PE ratio of 9.31 and a beta of 2.29.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.50. The business had revenue of $31.89 million during the quarter, compared to analyst estimates of $33.85 million. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. On average, research analysts forecast that FGI Industries will post -0.61 EPS for the current fiscal year.

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.