FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 162,848 shares, a decline of 41.6% from the May 31st total of 278,974 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 103,239 shares, the short-interest ratio is currently 1.6 days.

FBS Global Stock Down 5.4%

Shares of FBGL stock traded down $0.03 during trading on Thursday, hitting $0.49. 8,820 shares of the stock traded hands, compared to its average volume of 1,067,195. FBS Global has a 52-week low of $0.34 and a 52-week high of $1.40. The firm’s fifty day moving average price is $0.57 and its 200-day moving average price is $0.73.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of FBS Global from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of FBS Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBGL. Citadel Advisors LLC lifted its holdings in FBS Global by 202.0% in the third 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 during the period. Jane Street Group LLC acquired a new stake in shares of FBS Global in the fourth quarter valued at about $54,000. Finally, Renaissance Technologies LLC boosted its holdings in FBS Global by 15.7% during the first quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock worth $86,000 after buying an additional 19,647 shares in the last quarter.

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.