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

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 72,380 shares, an increase of 222.6% from the April 15th total of 22,434 shares. Based on an average daily volume of 538,476 shares, the short-interest ratio is currently 0.1 days. Approximately 4.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms have weighed in on FGI. Zacks Research raised FGI Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, FGI Industries presently has a consensus rating of “Moderate Buy”.

FGI Industries Stock Down 14.4%

FGI stock traded down $0.77 during midday trading on Friday, hitting $4.58. The company’s stock had a trading volume of 73,746 shares, compared to its average volume of 137,348. FGI Industries has a 1 year low of $2.50 and a 1 year high of $12.62. The stock’s 50-day moving average price is $5.15 and its 200 day moving average price is $5.72. The stock has a market cap of $8.84 million, a price-to-earnings ratio of -1.42 and a beta of 2.22.

FGI Industries (NASDAQ:FGI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). FGI Industries had a negative net margin of 4.70% and a negative return on equity of 2.19%. The firm had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $33.36 million. As a group, equities analysts forecast that FGI Industries will post -0.27 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, Europe, and internationally. 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.