FGI Industries (NASDAQ:FGI) Stock Price Up 2%

Shares of FGI Industries Ltd. (NASDAQ:FGI – Get Rating) rose 2% during mid-day trading on Wednesday . The stock traded as high as $1.83 and last traded at $1.80. Approximately 5,327 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 12,089 shares. The stock had previously closed at $1.76.

Wall Street Analysts Forecast Growth

Separately, Northland Securities dropped their target price on shares of FGI Industries from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 29th.

FGI Industries Price Performance

The firm has a market capitalization of $17.58 million, a P/E ratio of 7.16 and a beta of 1.48. The company’s 50-day simple moving average is $1.85 and its two-hundred day simple moving average is $2.10.

FGI Industries (NASDAQ:FGI – Get Rating) last released its earnings results on Monday, March 27th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $31.79 million for the quarter, compared to analysts’ expectations of $36.10 million. FGI Industries had a net margin of 1.96% and a return on equity of 14.55%. Analysts predict that FGI Industries Ltd. will post 0.43 earnings per share for the current year.

Institutional Trading of FGI Industries

Large investors have recently made changes to their positions in the business. First Wilshire Securities Management Inc. grew its stake in FGI Industries by 14.5% in the 1st quarter. First Wilshire Securities Management Inc. now owns 904,885 shares of the company’s stock worth $1,765,000 after acquiring an additional 114,374 shares in the last quarter. Citadel Advisors LLC bought a new position in FGI Industries in the 3rd quarter worth about $59,000. Jane Street Group LLC bought a new position in FGI Industries in the 1st quarter worth about $72,000. Finally, Vanguard Group Inc. bought a new position in FGI Industries in the 1st quarter worth about $43,000. 7.22% of the stock is currently owned by institutional investors.

FGI Industries Company Profile

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FGI Industries ltd. supplies kitchen and bath products in the United States, Canada, and Europe. 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.