FGI Industries Ltd. (NASDAQ:FGI) Sees Large Growth in Short Interest

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

Hedge Funds Weigh In On FGI Industries

An institutional investor recently raised its position in FGI Industries stock. Perritt Capital Management Inc. boosted its position in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

FGI Industries Stock Up 5.2 %

NASDAQ:FGI traded up $0.04 during trading hours on Friday, hitting $0.80. 10,188 shares of the company’s stock traded hands, compared to its average volume of 10,130. FGI Industries has a 52 week low of $0.70 and a 52 week high of $1.85. The business’s fifty day simple moving average is $0.85 and its two-hundred day simple moving average is $1.05. The firm has a market cap of $7.64 million, a P/E ratio of 13.32 and a beta of 1.39.

FGI Industries (NASDAQ:FGI) last issued 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). The business had revenue of $29.37 million for the quarter, compared to the consensus estimate of $31.30 million. FGI Industries had a net margin of 0.51% and a return on equity of 2.67%. On average, analysts expect that FGI Industries will post -0.01 EPS 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.