FGI Industries (NASDAQ:FGI) Share Price Breaks Above 50-Day Moving Average – What’s Next?

FGI Industries Ltd. (NASDAQ:FGI)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $7.79 and traded as high as $7.98. FGI Industries shares last traded at $7.81, with a volume of 8,712 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised FGI Industries to a “buy” rating in a research note on Saturday, September 26th. UBS Group set a $13.00 target price on FGI Industries in a research note on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a report on Monday, September 21st. 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 report on Friday, August 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FGI Industries presently has a consensus rating of “Hold” and a consensus target price of $13.00.

FGI Industries Trading Up 2.6%

The stock’s fifty day moving average price is $7.79 and its 200-day moving average price is $6.02. The firm has a market cap of $15.07 million, a price-to-earnings ratio of -3.75 and a beta of 2.26.

FGI Industries (NASDAQ:FGI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.10 by $0.50. FGI Industries had a negative net margin of 3.07% and a positive return on equity of 10.02%. The firm had revenue of $31.89 million for the quarter, compared to analyst estimates of $33.85 million. Analysts predict 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.

The company traces its roots to 1987 and operates as part of a vertically integrated supply network that combines product design, sourcing, manufacturing and distribution.