FBS Global Limited (NASDAQ:FBGL) Short Interest Down 45.8% in April

FBS Global Limited (NASDAQ:FBGL) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 642,527 shares, a drop of 45.8% from the April 15th total of 1,185,312 shares. Based on an average daily trading volume, of 163,750 shares, the days-to-cover ratio is currently 3.9 days. Currently, 4.8% of the shares of the company are short sold.

Hedge Funds Weigh In On FBS Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of FBS Global during the fourth quarter worth about $121,000. Jane Street Group LLC purchased a new position in shares of FBS Global during the fourth quarter worth about $54,000. Finally, Citadel Advisors LLC boosted its holdings in 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 purchasing an additional 32,157 shares in the last quarter.

FBS Global Stock Performance

Shares of NASDAQ FBGL traded up $0.00 during midday trading on Friday, reaching $0.54. 13,047 shares of the company were exchanged, compared to its average volume of 158,728. FBS Global has a 1 year low of $0.34 and a 1 year high of $1.40. The stock has a fifty day simple moving average of $0.60 and a 200 day simple moving average of $0.75.

About FBS Global

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.