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

FGI Industries Ltd. (NASDAQ:FGI) was the target of a large increase in short interest during 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. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On FGI Industries

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. raised its position in shares of FGI Industries Ltd. (NASDAQ:FGI) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

FGI Industries Stock Up 5.2 %

Shares of FGI stock traded up $0.04 on Friday, hitting $0.80. The company had a trading volume of 10,188 shares, compared to its average volume of 10,130. The firm has a market cap of $7.64 million, a P/E ratio of 13.32 and a beta of 1.39. The company has a 50-day moving average price of $0.85 and a 200-day moving average price of $1.05. FGI Industries has a twelve month low of $0.70 and a twelve month high of $1.85.

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