FBS Global (NASDAQ:FBGL) Shares Climb 13.9% – Should You Buy?

FBS Global Limited (NASDAQ:FBGL) shot up 13.9% during mid-day trading on Tuesday. The stock traded as high as $0.6361 and last traded at $0.4597. Approximately 68,604,291 shares changed hands during mid-day trading, an increase of 5,166% from the average session volume of 1,302,763 shares. The stock had previously closed at $0.4036.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of FBS Global from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

FBS Global Stock Performance

The stock has a 50-day simple moving average of $0.45 and a 200-day simple moving average of $0.54.

Hedge Funds Weigh In On FBS Global

An institutional investor recently raised its stake in FBS Global stock. Renaissance Technologies LLC grew its stake in shares of FBS Global Limited (NASDAQ:FBGL) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,492 shares of the company’s stock after buying an additional 19,647 shares during the quarter. Renaissance Technologies LLC owned about 1.07% of FBS Global worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

FBS Global Company Profile

FBS Global Limited is a Singapore-based food and beverage company focused on the distribution and supply of food products and ingredients. The company serves business customers in the foodservice sector, including restaurants, hotels, caterers and other commercial food operators.

Its activities include sourcing food products from suppliers and providing procurement and distribution services designed to support customers’ food and beverage operations. The company’s business is primarily oriented toward the business-to-business market rather than direct retail sales.

FBS Global operates through its Singapore-centered business and serves customers in the broader foodservice industry.