FBS Global Limited (NASDAQ:FBGL – Get Free Report) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 40,539 shares, a decrease of 66.1% from the July 15th total of 119,735 shares. Based on an average daily trading volume, of 129,851 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s stock are short sold.
Analysts Set New Price Targets
Separately, Weiss Ratings cut shares of FBS Global from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 7th. One analyst has rated the stock with a Sell rating, According to MarketBeat, FBS Global has an average rating of “Sell”.
Get Our Latest Analysis on FBS Global
FBS Global Trading Down 0.6%
Hedge Funds Weigh In On FBS Global
A number of hedge funds have recently added to or reduced their stakes in FBGL. Citadel Advisors LLC raised its stake in FBS Global by 202.0% during the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock worth $37,000 after acquiring an additional 32,157 shares during the period. Jane Street Group LLC acquired a new position in FBS Global during the 4th quarter valued at about $54,000. Finally, Renaissance Technologies LLC grew its position in FBS Global by 15.7% in the 1st quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock worth $86,000 after purchasing an additional 19,647 shares during the last 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.
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