FBS Global Limited (NASDAQ:FBGL) Short Interest Up 1,266.9% in March

FBS Global Limited (NASDAQ:FBGL) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 1,575,811 shares, a growth of 1,266.9% from the February 26th total of 115,285 shares. Based on an average daily volume of 1,983,729 shares, the days-to-cover ratio is currently 0.8 days. Approximately 11.7% of the company’s stock are sold short. Approximately 11.7% of the company’s stock are sold short. Based on an average daily volume of 1,983,729 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

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

FBS Global Stock Performance

FBS Global stock traded down $0.02 during mid-day trading on Tuesday, hitting $0.72. The company had a trading volume of 1,365,043 shares, compared to its average volume of 1,600,138. FBS Global has a 1 year low of $0.34 and a 1 year high of $1.90. The business has a fifty day moving average of $0.86 and a 200 day moving average of $0.77.

Institutional Investors Weigh In On FBS Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC lifted its position in FBS Global by 202.0% in 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 last quarter. Jane Street Group LLC purchased a new position in shares of FBS Global during the fourth quarter worth about $54,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of FBS Global during the fourth quarter worth about $121,000.

FBS Global Company Profile

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.