FBS Global Limited (NASDAQ:FBGL) Sees Significant Growth in Short Interest

FBS Global Limited (NASDAQ:FBGL) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 82,132 shares, a growth of 45.9% from the December 15th total of 56,295 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the shares of the company are sold short.

Institutional Investors Weigh In On FBS Global

A hedge fund recently raised its stake in FBS Global stock. Citadel Advisors LLC grew its position in shares of FBS Global Limited (NASDAQ:FBGL) by 202.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,077 shares of the company’s stock after buying an additional 32,157 shares during the quarter. Citadel Advisors LLC owned 0.36% of FBS Global worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

FBS Global Trading Down 5.1%

FBGL opened at $0.84 on Friday. FBS Global has a 12-month low of $0.41 and a 12-month high of $5.45. The stock has a 50-day moving average price of $0.79 and a 200-day moving average price of $0.68.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded FBS Global to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FBS Global in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FBS Global currently has an average 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.