Short Interest in FBS Global Limited (NASDAQ:FBGL) Increases By 174.4%

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 225,354 shares, an increase of 174.4% from the December 31st total of 82,132 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average trading volume of 3,087,666 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 3,087,666 shares, the short-interest ratio is presently 0.1 days. Currently, 1.7% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FBGL shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FBS Global in a research report on Monday, December 29th. Wall Street Zen upgraded shares of FBS Global to a “hold” rating in a report on Saturday, November 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

FBS Global Stock Down 2.4%

Shares of NASDAQ:FBGL opened at $0.83 on Friday. The business’s 50-day moving average is $0.84 and its 200 day moving average is $0.70. FBS Global has a 1 year low of $0.41 and a 1 year high of $5.45.

FBS Global (NASDAQ:FBGL) last issued its quarterly earnings results on Friday, October 17th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $3.09 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in FBS Global stock. Citadel Advisors LLC lifted its stake in shares of FBS Global Limited (NASDAQ:FBGL) by 202.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,077 shares of the company’s stock after buying an additional 32,157 shares during the period. Citadel Advisors LLC owned approximately 0.36% of FBS Global worth $37,000 at the end of the most recent quarter.

About FBS Global

The predecessor of our principal operating company was incorporated on March 9, 1996 in Singapore under the name Finebuild Systems Pte Ltd. Pursuant to a restructuring that took effect on August 2, 2022, FBS Global Limited, an exempted company incorporated in the Cayman Islands, through its wholly owned subsidiary, Success Elite Developments Limited, a company incorporated in BVI, became the ultimate holding company of our current principal operating subsidiary referred to herein as FBS SG. From its beginning as a construction company since 1996, FBS SG has developed into a premier integrated engineering company that provides a full suite of construction and engineering services.