FGI Industries Ltd. (NASDAQ:FGI) Short Interest Up 75.8% in September

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 39,900 shares, a growth of 75.8% from the August 31st total of 22,700 shares. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is presently 3.1 days. Approximately 1.5% of the company’s stock are short sold.

FGI Industries Stock Performance

Shares of FGI Industries stock traded up $0.04 during mid-day trading on Friday, hitting $0.80. 10,188 shares of the stock were exchanged, compared to its average volume of 10,130. FGI Industries has a 12 month low of $0.70 and a 12 month high of $1.85. The company has a 50-day simple moving average of $0.85 and a 200 day simple moving average of $1.05. The company has a market capitalization of $7.64 million, a P/E ratio of 13.32 and a beta of 1.39.

FGI Industries (NASDAQ:FGI) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $29.37 million for the quarter, compared to analysts’ expectations of $31.30 million. FGI Industries had a net margin of 0.51% and a return on equity of 2.67%. Analysts predict that FGI Industries will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. boosted its stake in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

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.