FGI Industries Ltd. (NASDAQ:FGI) Sees Large Increase in Short Interest

FGI Industries Ltd. (NASDAQ:FGI – Get Free Report) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 377,797 shares, an increase of 1,671.2% from the July 30th total of 21,330 shares. Based on an average daily trading volume, of 10,427,010 shares, the days-to-cover ratio is currently 0.0 days. Currently, 20.0% of the shares of the company are sold short.

Analyst Ratings Changes

FGI has been the topic of several analyst reports. UBS Group set a $13.00 target price on FGI Industries in a research report on Friday, August 14th. Benchmark restated 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. Zacks Research downgraded shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of FGI Industries from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FGI Industries presently has an average rating of “Hold” and a consensus price target of $13.00.

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FGI Industries Trading Up 11.1%

FGI stock traded up $0.78 during trading hours on Tuesday, hitting $7.80. 86,389 shares of the stock traded hands, compared to its average volume of 756,865. The stock has a 50-day simple moving average of $5.18 and a 200 day simple moving average of $5.30. The company has a market cap of $15.06 million, a P/E ratio of -3.75 and a beta of 2.20. FGI Industries has a one year low of $3.14 and a one year high of $19.93.

FGI Industries (NASDAQ:FGI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.60 EPS for the quarter, topping 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 analysts’ expectations of $33.85 million. Analysts forecast that FGI Industries will post -0.61 earnings per share for the current year.

About FGI Industries

(Get Free Report)

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.

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