FBS Global Limited (NASDAQ:FBGL) Short Interest Down 66.1% in July

FBS Global Limited (NASDAQ:FBGL) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 40,539 shares, a drop of 66.1% from the July 15th total of 119,735 shares. Based on an average trading volume of 129,851 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded FBS Global from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On FBS Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBGL. Renaissance Technologies LLC increased its position in shares of FBS Global by 15.7% during the 1st quarter. Renaissance Technologies LLC now owns 144,492 shares of the company’s stock valued at $86,000 after purchasing an additional 19,647 shares during the period. Citadel Advisors LLC lifted its holdings in shares of FBS Global by 202.0% in the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after buying an additional 32,157 shares during the period. Finally, Jane Street Group LLC bought a new position in FBS Global during the fourth quarter valued at about $54,000.

FBS Global Stock Down 0.6%

Shares of FBGL stock traded down $0.00 during midday trading on Friday, reaching $0.39. 6,248 shares of the company were exchanged, compared to its average volume of 1,004,866. The company’s 50 day moving average price is $0.54 and its two-hundred day moving average price is $0.65. FBS Global has a 12 month low of $0.34 and a 12 month high of $1.40.

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.