FBS Global (NASDAQ:FBGL) Trading Up 4.7% – Should You Buy?

FBS Global Limited (NASDAQ:FBGL) rose 4.7% during mid-day trading on Monday . The company traded as high as $0.7412 and last traded at $0.7412. Approximately 911,318 shares were traded during trading, a decline of 44% from the average daily volume of 1,622,035 shares. The stock had previously closed at $0.7078.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBGL. Wall Street Zen raised FBS Global to a “hold” rating in a research note on Saturday, November 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FBS Global in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

FBS Global Stock Down 19.5%

The company’s 50 day moving average price is $0.86 and its 200 day moving average price is $0.77.

Institutional Investors Weigh In On FBS Global

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in FBS Global during the 4th quarter worth approximately $121,000. Jane Street Group LLC acquired a new stake in shares of FBS Global in the 4th quarter valued at approximately $54,000. Finally, Citadel Advisors LLC lifted its holdings in shares of FBS Global by 202.0% in the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after buying an additional 32,157 shares during the period.

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.