FBS Global Limited (NASDAQ:FBGL) Shares Shorted: Short Interest Up 120.4% in October

FBS Global Limited (NASDAQ:FBGL) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 62,738 shares, a growth of 120.4% from the September 30th total of 28,469 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average daily volume of 337,273 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings lowered FBS Global from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, September 28th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of FBS Global

An institutional investor recently raised its stake in FBS Global stock. Renaissance Technologies LLC grew its stake in FBS Global Limited (NASDAQ:FBGL) by 15.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,492 shares of the company’s stock after purchasing an additional 19,647 shares during the period. Renaissance Technologies LLC owned approximately 1.07% of FBS Global worth $86,000 at the end of the most recent reporting period.

FBS Global Trading Up 4.9%

Shares of FBGL traded up $0.10 during midday trading on Friday, hitting $2.25. 10,558 shares of the stock were exchanged, compared to its average volume of 191,869. FBS Global has a 52-week low of $2.04 and a 52-week high of $14.00. The stock has a fifty day simple moving average of $3.50 and a 200 day simple moving average of $5.78.

FBS Global Company Profile

FBS Global Limited is a food and beverage waste management and recycling company with operations in Singapore. The company provides services designed to help food and beverage businesses manage waste more efficiently, including the collection, processing and recycling of food-related waste.

Its services are intended for customers such as restaurants, food manufacturers, hotels, institutions and other commercial establishments that generate food waste. By treating and repurposing collected waste, FBS Global supports waste diversion and the development of more circular resource-use practices.

FBS Global Limited is organized as a holding company and conducts its operating activities through subsidiaries.