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

FGI Industries Ltd. (NASDAQ:FGI) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 126,800 shares, an increase of 136.1% from the October 15th total of 53,700 shares. Currently, 4.9% of the company’s stock are sold short. Based on an average daily volume of 46,500 shares, the short-interest ratio is currently 2.7 days.

FGI Industries Stock Down 6.7 %

Shares of NASDAQ:FGI traded down $0.06 during midday trading on Friday, reaching $0.80. The company’s stock had a trading volume of 2,176 shares, compared to its average volume of 22,173. FGI Industries has a twelve month low of $0.70 and a twelve month high of $1.85. The firm has a market capitalization of $7.67 million, a PE ratio of -26.74 and a beta of 1.32. The stock has a fifty day moving average of $0.85 and a 200 day moving average of $0.93.

FGI Industries (NASDAQ:FGI) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $36.10 million for the quarter, compared to analysts’ expectations of $30.80 million. FGI Industries had a positive return on equity of 0.35% and a negative net margin of 0.27%. During the same period in the prior year, the firm earned $0.05 earnings per share. Sell-side analysts anticipate that FGI Industries will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FGI Industries

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. boosted its stake in shares of FGI Industries Ltd. (NASDAQ:FGI) by 21.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the company’s stock after purchasing an additional 12,385 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.73% of FGI Industries worth $104,000 at the end of the most recent reporting period.

About FGI Industries

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.