FGI Industries Ltd. (NASDAQ:FGI) Sees Significant Increase in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 16,300 shares, a growth of 7.9% from the March 15th total of 15,100 shares. Based on an average daily volume of 7,400 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Perritt Capital Management Inc. acquired a new stake in FGI Industries during the 4th quarter valued at approximately $94,000. Citadel Advisors LLC acquired a new stake in FGI Industries during the 3rd quarter valued at approximately $59,000. Jane Street Group LLC acquired a new stake in FGI Industries during the 1st quarter valued at approximately $72,000. Finally, Vanguard Group Inc. acquired a new stake in FGI Industries during the 1st quarter valued at approximately $43,000.

FGI Industries Stock Up 6.9 %

Shares of FGI stock traded up $0.09 on Wednesday, reaching $1.39. The company had a trading volume of 9,473 shares, compared to its average volume of 8,236. The stock has a market capitalization of $13.27 million, a PE ratio of 18.91 and a beta of 1.34. FGI Industries has a one year low of $1.26 and a one year high of $2.18. The business’s 50-day moving average is $1.52 and its 200 day moving average is $1.52.

FGI Industries (NASDAQ:FGI) last posted its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. FGI Industries had a net margin of 0.55% and a return on equity of 3.96%. The firm had revenue of $30.96 million during the quarter, compared to analysts’ expectations of $31.20 million. On average, sell-side analysts forecast that FGI Industries will post 0.08 earnings per share for the current fiscal year.

FGI Industries Company Profile

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, and Europe. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.