Short Interest in FGI Industries Ltd. (NASDAQ:FGI) Drops By 89.6%

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 22,434 shares, a decrease of 89.6% from the March 31st total of 216,563 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 101,357 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of FGI Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FGI Industries in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

FGI Industries Stock Up 18.6%

NASDAQ:FGI traded up $1.45 during mid-day trading on Friday, hitting $9.26. 544,488 shares of the stock traded hands, compared to its average volume of 490,793. FGI Industries has a 52 week low of $2.40 and a 52 week high of $12.62. The stock has a market capitalization of $17.84 million, a price-to-earnings ratio of -2.88 and a beta of 1.58. The firm’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.65.

FGI Industries (NASDAQ:FGI) last announced its earnings results on Thursday, April 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.14. FGI Industries had a negative return on equity of 2.19% and a negative net margin of 4.70%.The business had revenue of $30.47 million during the quarter, compared to analyst estimates of $35.50 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. As a group, research analysts predict that FGI Industries will post -0.27 EPS for the current 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.