Short Interest in FGI Industries Ltd. (NASDAQ:FGI) Drops By 31.3%

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 22,558 shares, a decrease of 31.3% from the December 15th total of 32,831 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 57,287 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 57,287 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.2% of the company’s stock are sold short.

FGI Industries Price Performance

Shares of FGI traded up $0.17 during mid-day trading on Friday, hitting $6.48. 22,564 shares of the company’s stock were exchanged, compared to its average volume of 19,922. The company has a market cap of $12.44 million, a PE ratio of -3.16 and a beta of 1.43. FGI Industries has a 52 week low of $2.28 and a 52 week high of $12.62. The company has a 50-day simple moving average of $6.21 and a 200 day simple moving average of $5.27.

FGI Industries (NASDAQ:FGI) last announced its quarterly earnings data on Friday, November 14th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.56. The business had revenue of $35.85 million for the quarter, compared to analyst estimates of $37.70 million. FGI Industries had a negative net margin of 2.89% and a negative return on equity of 2.50%. On average, analysts anticipate that FGI Industries will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FGI. Zacks Research cut shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded FGI Industries to a “sell” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, FGI Industries currently has a consensus rating of “Reduce”.

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.