FGI Industries (NASDAQ:FGI) Stock Price Up 0.5% – Here’s What Happened

Shares of FGI Industries Ltd. (NASDAQ:FGI) were up 0.5% during trading on Monday . The stock traded as high as $4.53 and last traded at $4.30. 19,081 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 28,982 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Zacks Research downgraded shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Wall Street Zen cut FGI Industries from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

FGI Industries Stock Performance

The company has a market capitalization of $8.30 million, a price-to-earnings ratio of -1.28 and a beta of 2.21. The firm has a 50-day simple moving average of $4.84 and a two-hundred day simple moving average of $5.25.

FGI Industries (NASDAQ:FGI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.27). FGI Industries had a negative return on equity of 4.56% and a negative net margin of 5.07%.The business had revenue of $30.50 million for the quarter, compared to analyst estimates of $33.36 million. As a group, equities analysts forecast that FGI Industries Ltd. will post -0.61 EPS for the current fiscal year.

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.