FGI Industries (NASDAQ:FGI) Shares Cross Above 50 Day Moving Average – Here’s Why

FGI Industries Ltd. (NASDAQ:FGI)’s share price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $7.81 and traded as high as $7.93. FGI Industries shares last traded at $7.93, with a volume of 5,062 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised FGI Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a report on Monday, September 21st. UBS Group set a $13.00 price target on FGI Industries in a research report on Friday, August 14th. Finally, Benchmark restated a “speculative buy” rating and issued a $13.00 price target (up from $8.00) on shares of FGI Industries in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

FGI Industries Stock Performance

The stock has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $6.05. The stock has a market cap of $15.30 million, a price-to-earnings ratio of -3.81 and a beta of 2.26.

FGI Industries (NASDAQ:FGI) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.50. FGI Industries had a positive return on equity of 10.02% and a negative net margin of 3.07%. The company had revenue of $31.89 million during the quarter, compared to analysts’ expectations of $33.85 million. Equities analysts expect that FGI Industries Ltd. will post -0.61 earnings per share for the current fiscal year.

About FGI Industries

FGI Industries Ltd. is a global manufacturer and distributor of bathroom and kitchen products. The company supplies products for residential, hospitality, commercial and multifamily construction applications through retail, wholesale and e-commerce channels. Its product portfolio includes bathroom vanities and furniture, bathtubs, shower systems and enclosures, toilets, sinks, faucets, mirrors and related accessories. FGI markets products under brands that include Foremost, Jetcoat and Bootz, serving customers across North America and other international markets.