Shares of FBS Global Limited (NASDAQ:FBGL – Free Report) are set to reverse split before the market opens on Monday, September 28th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 27th.
FBS Global Stock Down 7.9%
NASDAQ FBGL traded down $0.03 on Thursday, reaching $0.37. The stock had a trading volume of 2,523,699 shares, compared to its average volume of 4,803,754. The stock has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $0.54. FBS Global has a 12-month low of $0.34 and a 12-month high of $1.40.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised shares of FBS Global from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.
Institutional Trading of FBS Global
A hedge fund recently raised its position in FBS Global stock. Renaissance Technologies LLC boosted its position in shares of FBS Global Limited (NASDAQ:FBGL – Free Report) by 15.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,492 shares of the company’s stock after acquiring an additional 19,647 shares during the period. Renaissance Technologies LLC owned about 1.07% of FBS Global worth $86,000 as of its most recent SEC filing.
About FBS Global
FBS Global Limited is a Singapore-based food and beverage company focused on the distribution and supply of food products and ingredients. The company serves business customers in the foodservice sector, including restaurants, hotels, caterers and other commercial food operators.
Its activities include sourcing food products from suppliers and providing procurement and distribution services designed to support customers’ food and beverage operations. The company’s business is primarily oriented toward the business-to-business market rather than direct retail sales.
FBS Global operates through its Singapore-centered business and serves customers in the broader foodservice industry.
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