FST (NASDAQ:KBSX) Trading Down 2.3% – Here’s Why

Shares of FST Corp. (NASDAQ:KBSX) dropped 2.3% on Friday . The company traded as low as $0.83 and last traded at $0.86. Approximately 9,356 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 21,056 shares. The stock had previously closed at $0.88.

Analyst Upgrades and Downgrades

Separately, Litchfield Hills Research started coverage on shares of FST in a research note on Monday, May 18th. They set a “buy” rating and a $4.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, FST currently has a consensus rating of “Hold” and a consensus price target of $4.00.

FST Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.96 and a quick ratio of 0.56. The stock’s fifty day moving average is $1.17 and its 200-day moving average is $1.25. The stock has a market cap of $32.47 million, a PE ratio of 86.00 and a beta of 0.36.

FST (NASDAQ:KBSX) last issued its earnings results on Wednesday, April 1st. The company reported $0.04 EPS for the quarter. The firm had revenue of $14.65 million for the quarter. As a group, equities analysts anticipate that FST Corp. will post 0.07 EPS for the current year.

Institutional Trading of FST

A hedge fund recently bought a new stake in FST stock. Geode Capital Management LLC acquired a new stake in FST Corp. (NASDAQ:KBSX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,123 shares of the company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 0.11% of FST as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 50.85% of the company’s stock.

FST Company Profile

FST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.