FGI Industries (NASDAQ:FGI) Shares Down 2.6% – Here’s Why

FGI Industries Ltd. (NASDAQ:FGI)’s share price traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $4.26 and last traded at $4.44. Approximately 17,016 shares were traded during mid-day trading, a decline of 55% from the average session volume of 37,628 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

Several brokerages have recently commented on FGI. Zacks Research lowered shares of FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FGI Industries in a report on Friday, March 27th. Finally, Wall Street Zen raised FGI Industries to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce”.

FGI Industries Stock Performance

The company has a 50 day moving average of $6.01 and a 200-day moving average of $5.70. The stock has a market cap of $8.57 million, a price-to-earnings ratio of -1.32 and a beta of 2.16.

FGI Industries (NASDAQ:FGI) last released its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.27). The firm had revenue of $30.50 million during the quarter, compared to analyst estimates of $33.36 million. FGI Industries had a negative net margin of 5.07% and a negative return on equity of 4.56%. On average, research analysts anticipate that FGI Industries Ltd. will post -0.61 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.