FGI Industries Ltd. (NASDAQ:FGI) Sees Large Decline in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 19,509 shares, a drop of 13.5% from the December 31st total of 22,558 shares. Based on an average daily volume of 19,667 shares, the short-interest ratio is currently 1.0 days. Approximately 1.1% of the shares of the stock are sold short. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 19,667 shares, the short-interest ratio is currently 1.0 days.

FGI Industries Stock Down 2.6%

Shares of NASDAQ:FGI opened at $6.04 on Thursday. FGI Industries has a 52-week low of $2.28 and a 52-week high of $12.62. The stock’s fifty day simple moving average is $6.51 and its 200-day simple moving average is $5.56. The company has a market capitalization of $11.60 million, a P/E ratio of -2.95 and a beta of 1.43.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.56. The firm had revenue of $35.85 million during the quarter, compared to analysts’ expectations of $37.70 million. FGI Industries had a negative return on equity of 2.50% and a negative net margin of 2.89%. On average, sell-side analysts anticipate that FGI Industries will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on FGI shares. Wall Street Zen raised FGI Industries to a “sell” rating in a report on Saturday, December 13th. Zacks Research lowered shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FGI Industries presently has a consensus rating of “Reduce”.

About FGI Industries

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.