FBS Global Limited (NASDAQ:FBGL) Short Interest Down 47.2% in May

FBS Global Limited (NASDAQ:FBGL) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 339,417 shares, a decrease of 47.2% from the April 30th total of 642,527 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 132,507 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of FBS Global in a report on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, FBS Global presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew 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 worth $86,000 after purchasing an additional 19,647 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of FBS Global during the 4th quarter worth approximately $54,000. Finally, Citadel Advisors LLC grew its position in shares of FBS Global by 202.0% during the 3rd quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock worth $37,000 after purchasing an additional 32,157 shares in the last quarter.

FBS Global Stock Up 6.6%

FBS Global stock traded up $0.04 during trading hours on Monday, hitting $0.62. The company had a trading volume of 27,572 shares, compared to its average volume of 1,281,212. FBS Global has a one year low of $0.34 and a one year high of $1.40. The firm has a 50-day moving average of $0.61 and a 200 day moving average of $0.75.

About FBS Global

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.