FBS Global Limited (NASDAQ:FBGL) Short Interest Up 1,266.9% in March

FBS Global Limited (NASDAQ:FBGL) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,575,811 shares, an increase of 1,266.9% from the February 26th total of 115,285 shares. Based on an average daily volume of 1,983,729 shares, the days-to-cover ratio is presently 0.8 days. Approximately 11.7% of the shares of the stock are short sold. Approximately 11.7% of the shares of the stock are short sold. Based on an average daily volume of 1,983,729 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FBGL shares. Weiss Ratings restated a “sell (d-)” rating on shares of FBS Global in a research report on Monday, December 29th. Wall Street Zen upgraded FBS Global to a “hold” rating in a report on Saturday, November 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, FBS Global currently has an average rating of “Sell”.

Institutional Investors Weigh In On FBS Global

A number of hedge funds have recently modified their holdings of FBGL. Jane Street Group LLC purchased a new position in shares of FBS Global in the fourth quarter worth about $54,000. Renaissance Technologies LLC acquired a new position in FBS Global during the fourth quarter worth about $121,000. Finally, Citadel Advisors LLC grew its stake in FBS Global by 202.0% during the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after acquiring an additional 32,157 shares in the last quarter.

FBS Global Price Performance

NASDAQ FBGL opened at $0.72 on Wednesday. The business has a fifty day moving average price of $0.86 and a 200 day moving average price of $0.77. FBS Global has a one year low of $0.34 and a one year high of $1.90.

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.