FGI Industries Ltd. (NASDAQ:FGI) Sees Significant Increase in Short Interest

FGI Industries Ltd. (NASDAQ:FGI) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 28,000 shares, an increase of 5.3% from the July 31st total of 26,600 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 7,100 shares, the days-to-cover ratio is currently 3.9 days.

Hedge Funds Weigh In On FGI Industries

An institutional investor recently raised its position in FGI Industries stock. Perritt Capital Management Inc. lifted its position in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,000 shares of the company’s stock after acquiring 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 SEC.

FGI Industries Price Performance

FGI opened at $0.74 on Wednesday. FGI Industries has a 12 month low of $0.73 and a 12 month high of $1.85. The stock has a market capitalization of $7.08 million, a price-to-earnings ratio of 12.33 and a beta of 1.42. The business has a fifty day moving average price of $0.94 and a 200 day moving average price of $1.14.

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

FGI Industries Company Profile

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.