Founder Group Limited (NASDAQ:FGL) Stock Short Interest Jumps 167.6%

Founder Group Limited (NASDAQ:FGL) was the target of a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 28,526 shares, an increase of 167.6% from the October 15th total of 10,661 shares. Based on an average trading volume of 922,727 shares, the short-interest ratio is presently 0.0 days. Approximately 142.6% of the company’s shares are short sold.

Insider Activity at Founder Group

In related news, major shareholder Financial Lp Hrt sold 395,774 shares of Founder Group stock in a transaction on Monday, August 31st. The shares were sold at an average price of $0.15, for a total transaction of $59,366.10. Following the transaction, the insider owned 66,805 shares in the company, valued at approximately $10,020.75. The trade was a 85.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 108,927 shares of company stock valued at $59,482 and have sold 397,398 shares valued at $111,231. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Founder Group in a research note on Monday, August 3rd. Wall Street Zen raised Founder Group to a “hold” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Founder Group currently has a consensus rating of “Sell”.

Founder Group Trading Down 4.3%

NASDAQ:FGL opened at $1.10 on Friday. Founder Group has a one year low of $0.90 and a one year high of $4,889.00. The stock has a 50-day simple moving average of $3.74 and a 200 day simple moving average of $281.85.

Founder Group (NASDAQ:FGL) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $10.16 million for the quarter.

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.