FGI Industries Ltd. (NASDAQ:FGI) Short Interest Down 61.1% in June

FGI Industries Ltd. (NASDAQ:FGI) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 12,798 shares, a decline of 61.1% from the June 15th total of 32,864 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 30,324 shares, the short-interest ratio is currently 0.4 days.

FGI Industries Price Performance

FGI opened at $5.04 on Monday. The company’s 50-day moving average is $5.32 and its 200 day moving average is $5.44. FGI Industries has a fifty-two week low of $3.14 and a fifty-two week high of $12.62. The firm has a market capitalization of $9.73 million, a P/E ratio of -1.50 and a beta of 2.21.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FGI. Weiss Ratings restated a “sell (d-)” rating on shares of FGI Industries in a report on Wednesday, June 24th. Wall Street Zen downgraded FGI Industries from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Zacks Research downgraded FGI Industries from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, FGI Industries currently has a consensus rating of “Reduce”.

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.