FBS Global Limited (NASDAQ:FBGL) Short Interest Up 48.6% in August

FBS Global Limited (NASDAQ:FBGL) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 60,237 shares, an increase of 48.6% from the July 30th total of 40,539 shares. Based on an average daily volume of 234,947 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Citadel Advisors LLC increased its holdings in shares of 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 purchasing an additional 32,157 shares during the period. Jane Street Group LLC acquired a new stake in shares of FBS Global during the fourth quarter worth about $54,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 19,647 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of FBS Global from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

FBS Global Price Performance

Shares of NASDAQ FBGL traded up $0.01 during mid-day trading on Tuesday, hitting $0.41. The stock had a trading volume of 22,951 shares, compared to its average volume of 952,945. The company has a 50 day moving average of $0.50 and a two-hundred day moving average of $0.61. FBS Global has a twelve month low of $0.34 and a twelve month high of $1.40.

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.