Short Interest in FBS Global Limited (NASDAQ:FBGL) Drops By 16.8%

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,310,969 shares, a decrease of 16.8% from the March 15th total of 1,575,811 shares. Currently, 9.7% of the shares of the company are short sold. Based on an average daily trading volume, of 686,563 shares, the days-to-cover ratio is presently 1.9 days.

FBS Global Price Performance

FBS Global stock traded down $0.00 during trading on Thursday, reaching $0.62. The company had a trading volume of 52,019 shares, compared to its average volume of 1,749,327. FBS Global has a 52 week low of $0.34 and a 52 week high of $1.40. The firm’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $0.76.

Hedge Funds Weigh In On FBS Global

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in FBS Global in the 4th quarter worth $121,000. Jane Street Group LLC bought a new stake in FBS Global during the fourth quarter valued at about $54,000. Finally, Citadel Advisors LLC raised its holdings in FBS Global by 202.0% during the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after acquiring an additional 32,157 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of FBS Global in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FBS Global has a consensus rating of “Sell”.

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.