Founder Group Limited (NASDAQ:FGL) Stock Short Interest Drops 95.0%

Founder Group Limited (NASDAQ:FGL) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 20,308 shares, a decrease of 95.0% from the August 31st total of 406,154 shares. Approximately 101.5% of the shares of the company are short sold. Based on an average trading volume of 640,935 shares, the short-interest ratio is currently 0.0 days.

Founder Group Price Performance

Founder Group stock traded down $0.02 during midday trading on Thursday, reaching $4.41. 20,832 shares of the stock were exchanged, compared to its average volume of 429,978. The company’s fifty day moving average is $45.60 and its 200-day moving average is $164.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.14 and a current ratio of 1.15. Founder Group has a 52 week low of $3.81 and a 52 week high of $10,600.00.

Analysts Set New Price Targets

A number of research firms recently issued reports on FGL. Wall Street Zen upgraded Founder Group to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Founder Group in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 395,774 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $0.15, for a total value of $59,366.10. Following the completion of the transaction, the insider directly owned 66,805 shares of the company’s stock, valued at $10,020.75. This trade represents a 85.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders acquired 108,927 shares of company stock worth $59,482 and sold 397,398 shares worth $111,231. 0.60% of the stock is currently owned by corporate insiders.

Founder Group Company Profile

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities principally in Malaysia. The company’s primary focus is large-scale solar projects and commercial and industrial solar projects. Founder Group Limited is based in KUALA LUMPUR, Malaysia.