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

FBS Global Limited (NASDAQ:FBGL) was the recipient of a significant increase in short interest during the month of 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. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 234,947 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On FBS Global

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 19,647 shares during the period. Citadel Advisors LLC boosted its position in FBS Global by 202.0% during the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after acquiring an additional 32,157 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of FBS Global in the 4th quarter valued at $54,000.

FBS Global Trading Up 3.2%

NASDAQ FBGL traded up $0.01 during trading on Tuesday, reaching $0.41. 22,951 shares of the company’s stock traded hands, compared to its average volume of 952,945. FBS Global has a 12-month low of $0.34 and a 12-month high of $1.40. The company’s 50 day simple moving average is $0.50 and its two-hundred day simple moving average is $0.61.

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.