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

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 27,800 shares, a drop of 7.3% from the May 31st total of 30,000 shares. Based on an average trading volume of 8,900 shares, the days-to-cover ratio is presently 3.1 days. Currently, 1.1% of the company’s stock are short sold.

FGI Industries Stock Up 10.4 %

Shares of NASDAQ:FGI opened at $1.03 on Thursday. The firm’s 50 day moving average price is $1.04 and its 200 day moving average price is $1.36. The stock has a market cap of $9.85 million, a price-to-earnings ratio of 17.17 and a beta of 1.42. FGI Industries has a fifty-two week low of $0.80 and a fifty-two week high of $1.95.

FGI Industries (NASDAQ:FGI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $30.75 million during the quarter, compared to analysts’ expectations of $28.70 million. FGI Industries had a net margin of 0.45% and a return on equity of 2.95%. On average, equities analysts anticipate that FGI Industries will post 0.04 EPS for the current year.

Hedge Funds Weigh In On FGI Industries

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. raised its stake in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,000 shares of the company’s stock after purchasing an additional 12,385 shares during the period. Perritt Capital Management Inc. owned 0.73% of FGI Industries worth $104,000 as of its most recent SEC filing.

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.