FBS Global Limited (NASDAQ:FBGL) Short Interest Up 45.9% in December

FBS Global Limited (NASDAQ:FBGL) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 82,132 shares, an increase of 45.9% from the December 15th total of 56,295 shares. Based on an average daily trading volume, of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the company’s shares are short sold. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,414,195 shares, the days-to-cover ratio is currently 0.0 days.

FBS Global Trading Down 5.1%

FBS Global stock opened at $0.84 on Monday. The firm’s 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.68. FBS Global has a twelve month low of $0.41 and a twelve month high of $5.45.

FBS Global (NASDAQ:FBGL) last posted its quarterly earnings results on Friday, October 17th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $3.09 million during the quarter.

Institutional Investors Weigh In On FBS Global

An institutional investor recently raised its position in FBS Global stock. Citadel Advisors LLC boosted its holdings in shares of FBS Global Limited (NASDAQ:FBGL) by 202.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,077 shares of the company’s stock after acquiring an additional 32,157 shares during the quarter. Citadel Advisors LLC owned approximately 0.36% of FBS Global worth $37,000 at the end of the most recent reporting period.

Analyst Ratings Changes

FBGL has been the subject of several research analyst reports. Wall Street Zen upgraded shares of FBS Global to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FBS Global in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.