FGI Industries Ltd. (NASDAQ:FGI) Sees Significant Growth in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 377,797 shares, an increase of 1,671.2% from the July 30th total of 21,330 shares. Approximately 20.0% of the shares of the stock are short sold. Based on an average trading volume of 10,427,010 shares, the days-to-cover ratio is presently 0.0 days.

FGI Industries Trading Up 11.1%

NASDAQ FGI traded up $0.78 during trading on Tuesday, reaching $7.80. 86,389 shares of the company’s stock were exchanged, compared to its average volume of 756,865. FGI Industries has a fifty-two week low of $3.14 and a fifty-two week high of $19.93. The company’s fifty day simple moving average is $5.18 and its 200-day simple moving average is $5.30. The firm has a market capitalization of $15.06 million, a PE ratio of -3.75 and a beta of 2.20.

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

Analyst Upgrades and Downgrades

FGI has been the topic of a number of recent research reports. Benchmark restated a “speculative buy” rating and issued a $13.00 target price (up from $8.00) on shares of FGI Industries in a report on Friday, August 14th. UBS Group set a $13.00 price target on FGI Industries in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of FGI Industries in a research note on Wednesday, June 24th. Wall Street Zen downgraded FGI Industries from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Zacks Research downgraded FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.00.

FGI Industries Company Profile

FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, Europe, and internationally. The company sells sanitaryware products, such as toilets, sinks, pedestals, and toilet seats; wood and wood-substitute furniture for bathrooms, including vanities, mirrors, laundry, medicine cabinets, and other storage systems; shower systems; and customer kitchen cabinetry and other accessory items under the Foremost, avenue, contrac, Jetcoat, rosenberg, and Covered Bridge Cabinetry brand names.