FGI Industries Ltd. (NASDAQ:FGI) Short Interest Up 136.1% in October

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FGI Industries stock. Perritt Capital Management Inc. grew its position in FGI Industries Ltd. (NASDAQ:FGI) by 21.5% during the first quarter, according to the company in its most recent disclosure 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 period. Perritt Capital Management Inc. owned approximately 0.73% of FGI Industries worth $104,000 at the end of the most recent quarter.

FGI Industries Trading Down 6.7 %

Shares of NASDAQ:FGI traded down $0.06 during midday trading on Friday, hitting $0.80. The company had a trading volume of 2,176 shares, compared to its average volume of 22,173. FGI Industries has a 12 month low of $0.70 and a 12 month high of $1.85. The stock has a market cap of $7.67 million, a price-to-earnings ratio of -28.67 and a beta of 1.32. The firm has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $0.94.

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