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

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a significant 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. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 57,287 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 57,287 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.2% of the shares of the company are sold short.

FGI Industries Stock Performance

Shares of FGI stock traded up $0.17 during mid-day trading on Friday, reaching $6.48. The company’s stock had a trading volume of 22,588 shares, compared to its average volume of 27,187. The firm’s 50-day moving average is $6.24 and its two-hundred day moving average is $5.32. The company has a market cap of $12.44 million, a P/E ratio of -3.16 and a beta of 1.43. FGI Industries has a 1-year low of $2.28 and a 1-year high of $12.62.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on FGI shares. Zacks Research cut shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Wall Street Zen upgraded shares of FGI Industries to a “sell” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average 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.