FST (NASDAQ:KBSX) Trading Down 17.6% – Here’s What Happened

FST Corp. (NASDAQ:KBSX) shares fell 17.6% during trading on Thursday . The company traded as low as $0.81 and last traded at $0.8528. Approximately 33,396 shares were traded during mid-day trading, an increase of 97% from the average daily volume of 16,933 shares. The stock had previously closed at $1.0350.

Analyst Ratings Changes

Separately, Litchfield Hills Research began coverage on FST in a research note on Monday, May 18th. They issued a “buy” rating and a $4.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.00.

FST Price Performance

The company has a market cap of $32.19 million, a P/E ratio of 85.28 and a beta of 0.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.96. The firm’s fifty day moving average is $1.29 and its two-hundred day moving average is $1.30.

FST (NASDAQ:KBSX) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $14.65 million during the quarter. As a group, analysts anticipate that FST Corp. will post 0.07 earnings per share for the current fiscal year.

Institutional Trading of FST

An institutional investor recently bought a new stake in FST stock. Geode Capital Management LLC bought a new position in shares of FST Corp. (NASDAQ:KBSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 41,123 shares of the company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned approximately 0.11% of FST at the end of the most recent quarter. Hedge funds and other institutional investors own 50.85% of the company’s stock.

About FST

FST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.