FBS Global Limited (NASDAQ:FBGL) Stock Short Interest Climbs 120.4%

FBS Global Limited (NASDAQ:FBGL) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 62,738 shares, an increase of 120.4% from the September 30th total of 28,469 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average trading volume of 337,273 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FBS Global stock. Renaissance Technologies LLC raised its stake in FBS Global Limited (NASDAQ:FBGL) by 15.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,492 shares of the company’s stock after buying an additional 19,647 shares during the quarter. Renaissance Technologies LLC owned 1.07% of FBS Global worth $86,000 at the end of the most recent reporting period.

FBS Global Trading Up 4.9%

NASDAQ FBGL traded up $0.10 during trading on Friday, reaching $2.25. 10,558 shares of the company’s stock were exchanged, compared to its average volume of 191,869. FBS Global has a fifty-two week low of $2.04 and a fifty-two week high of $14.00. The company’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $5.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of FBS Global from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

About FBS Global

FBS Global Limited is a food and beverage waste management and recycling company with operations in Singapore. The company provides services designed to help food and beverage businesses manage waste more efficiently, including the collection, processing and recycling of food-related waste.

Its services are intended for customers such as restaurants, food manufacturers, hotels, institutions and other commercial establishments that generate food waste. By treating and repurposing collected waste, FBS Global supports waste diversion and the development of more circular resource-use practices.

FBS Global Limited is organized as a holding company and conducts its operating activities through subsidiaries.