FGI Industries Ltd. (NASDAQ:FGI) Short Interest Up 75.8% in September

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 39,900 shares, a growth of 75.8% from the August 31st total of 22,700 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On FGI Industries

An institutional investor recently raised its position in FGI Industries stock. Perritt Capital Management Inc. increased its holdings in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company’s stock after purchasing an additional 12,385 shares during the quarter. Perritt Capital Management Inc. owned 0.73% of FGI Industries worth $104,000 at the end of the most recent quarter.

FGI Industries Stock Performance

Shares of NASDAQ:FGI traded down $0.02 on Thursday, hitting $0.78. The company’s stock had a trading volume of 13,339 shares, compared to its average volume of 10,130. The company has a market capitalization of $7.43 million, a price-to-earnings ratio of 12.94 and a beta of 1.39. FGI Industries has a 12 month low of $0.70 and a 12 month high of $1.85. The stock’s 50-day moving average is $0.86 and its two-hundred day moving average is $1.05.

FGI Industries (NASDAQ:FGI) last announced its 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 the consensus estimate of $31.30 million. Equities analysts expect that FGI Industries will post -0.01 earnings per share for the current fiscal 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.