Founder Group (NASDAQ:FGL) Shares Scheduled to Reverse Split on Tuesday, September 1st

Shares of Founder Group Limited (NASDAQ:FGL) are set to reverse split before the market opens on Tuesday, September 1st. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 31st.

Founder Group Trading Down 13.8%

Shares of FGL traded down $0.02 during mid-day trading on Friday, reaching $0.15. 25,921,862 shares of the company’s stock were exchanged, compared to its average volume of 7,959,304. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.14 and a current ratio of 1.15. The business’s fifty day simple moving average is $0.96 and its 200-day simple moving average is $3.22. Founder Group has a 52-week low of $0.12 and a 52-week high of $140.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Founder Group in a report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Insider Buying and Selling at Founder Group

In related news, major shareholder Financial Lp Hrt sold 146,713 shares of Founder Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $0.33, for a total value of $48,415.29. Following the transaction, the insider directly owned 41,361 shares in the company, valued at $13,649.13. This trade represents a 78.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 185,191 shares of company stock worth $42,373 over the last three months. 0.60% of the stock is owned by company insiders.

About Founder Group

Founder Group is a diversified investment holding company originally established in 1986 by Peking University. The group traces its roots to one of China’s leading academic institutions and has since evolved into a state-owned enterprise focused on fostering innovation and technology commercialization. Leveraging its academic heritage, Founder Group has built a network of subsidiaries and affiliates across a range of high-growth industries.

The company’s main business activities span information technology and digital printing, including integrated circuit design, software development and advanced printing solutions.