Founder Group Limited (NASDAQ:FGL) Shares Shorted: Short Interest Down 41.9% in September

Founder Group Limited (NASDAQ:FGL) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 11,803 shares, a drop of 41.9% from the September 15th total of 20,308 shares. Based on an average trading volume of 142,944 shares, the short-interest ratio is currently 0.1 days. Approximately 59.0% of the company’s stock are sold short.

Founder Group Stock Performance

FGL stock traded down $1.02 during midday trading on Friday, hitting $3.41. The company’s stock had a trading volume of 83,530 shares, compared to its average volume of 58,276. The firm’s 50-day moving average is $17.84 and its 200-day moving average is $115.90. Founder Group has a 12 month low of $3.26 and a 12 month high of $7,071.00.

Analysts Set New Price Targets

Several analysts recently weighed in on FGL shares. Wall Street Zen upgraded Founder Group to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Founder Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

Insider Buying and Selling

In other Founder Group news, major shareholder Financial Lp Hrt sold 395,774 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $0.15, for a total value of $59,366.10. Following the sale, the insider owned 66,805 shares in the company, valued at approximately $10,020.75. This represents a 85.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 108,927 shares of company stock worth $59,482 and have sold 397,398 shares worth $111,231. 0.60% of the stock is owned by insiders.

About Founder Group

Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities principally in Malaysia. The company’s primary focus is large-scale solar projects and commercial and industrial solar projects. Founder Group Limited is based in KUALA LUMPUR, Malaysia.