FBS Global Limited (NASDAQ:FBGL) Short Interest Update

FBS Global Limited (NASDAQ:FBGL) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,575,811 shares, a growth of 1,266.9% from the February 26th total of 115,285 shares. Currently, 11.7% of the shares of the stock are sold short. Based on an average trading volume of 1,983,729 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On FBS Global

A number of hedge funds and other institutional investors have recently modified their holdings of FBGL. Jane Street Group LLC purchased a new stake in FBS Global during the 4th quarter valued at about $54,000. Renaissance Technologies LLC bought a new stake in FBS Global in the fourth quarter valued at approximately $121,000. Finally, Citadel Advisors LLC boosted its stake in shares of FBS Global by 202.0% during the third quarter. Citadel Advisors LLC now owns 48,077 shares of the company’s stock valued at $37,000 after purchasing an additional 32,157 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen raised shares of FBS Global to a “hold” rating in a report on Saturday, November 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of FBS Global in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

FBS Global Trading Down 8.4%

Shares of FBGL stock traded down $0.05 during trading hours on Thursday, hitting $0.53. 147,076 shares of the company’s stock were exchanged, compared to its average volume of 2,117,092. The business’s 50 day simple moving average is $0.86 and its 200-day simple moving average is $0.77. FBS Global has a 12-month low of $0.34 and a 12-month high of $1.40.

FBS Global Company Profile

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.