FST (NASDAQ:KBSX) Trading Down 2.3% – Here’s What Happened

FST Corp. (NASDAQ:KBSX)’s stock price dropped 2.3% during trading on Friday . The company traded as low as $0.83 and last traded at $0.86. 9,356 shares were traded during mid-day trading, a decline of 56% from the average session volume of 21,056 shares. The stock had previously closed at $0.88.

Analyst Ratings Changes

Separately, Litchfield Hills Research assumed coverage on FST in a research note on Monday, May 18th. They issued a “buy” rating and a $4.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.00.

FST Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.96. The company has a 50-day moving average of $1.17 and a 200-day moving average of $1.25. The stock has a market capitalization of $32.47 million, a price-to-earnings ratio of 86.00 and a beta of 0.36.

FST (NASDAQ:KBSX) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.04 earnings per share for the quarter. The company had revenue of $14.65 million during the quarter. As a group, equities research analysts expect that FST Corp. will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in FST stock. Geode Capital Management LLC bought a new position in FST Corp. (NASDAQ:KBSX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,123 shares of the company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 0.11% of FST as of its most recent filing with the Securities and Exchange Commission (SEC). 50.85% of the stock is currently owned by institutional investors.

FST Company Profile

FST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.