Short Interest in FGI Industries Ltd. (NASDAQ:FGI) Increases By 136.1%

FGI Industries Ltd. (NASDAQ:FGI) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 126,800 shares, an increase of 136.1% from the October 15th total of 53,700 shares. Based on an average daily volume of 46,500 shares, the short-interest ratio is presently 2.7 days. Currently, 4.9% of the shares of the company are short sold.

Institutional Trading of FGI Industries

An institutional investor recently raised its position in FGI Industries stock. Perritt Capital Management Inc. lifted its stake in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,000 shares of the company’s stock after buying an additional 12,385 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.73% of FGI Industries worth $104,000 at the end of the most recent reporting period.

FGI Industries Stock Performance

Shares of NASDAQ:FGI traded down $0.06 during trading on Friday, reaching $0.80. The stock had a trading volume of 2,176 shares, compared to its average volume of 22,173. The firm’s fifty day moving average is $0.85 and its 200 day moving average is $0.93. The stock has a market cap of $7.67 million, a price-to-earnings ratio of -26.74 and a beta of 1.32. FGI Industries has a 52 week low of $0.70 and a 52 week high of $1.85.

FGI Industries (NASDAQ:FGI) last posted its earnings results on Monday, November 11th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $36.10 million during the quarter, compared to analyst estimates of $30.80 million. FGI Industries had a positive return on equity of 0.35% and a negative net margin of 0.27%. During the same quarter in the previous year, the firm earned $0.05 EPS. On average, research analysts forecast that FGI Industries will post -0.01 earnings per share 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.