FG Nexus (NASDAQ:FGNX) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

FG Nexus (NASDAQ:FGNX) issued its quarterly earnings data on Friday. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08, Zacks reports.

FG Nexus Trading Down 5.8%

Shares of FG Nexus stock opened at $2.60 on Friday. FG Nexus has a 1 year low of $2.55 and a 1 year high of $41.25. The firm has a 50-day moving average of $5.06. The firm has a market cap of $104 million, a price-to-earnings ratio of -0.30 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FGNX. Litchfield Hills Research initiated coverage on FG Nexus in a report on Tuesday. They set a “buy” rating and a $12.00 target price on the stock. ThinkEquity began coverage on shares of FG Nexus in a research report on Monday, October 6th. They set a “buy” rating on the stock. B. Riley initiated coverage on shares of FG Nexus in a report on Wednesday, October 15th. They set a “buy” rating and a $8.00 price target for the company. Zacks Research upgraded shares of FG Nexus to a “hold” rating in a report on Friday, October 17th. Finally, Wall Street Zen raised shares of FG Nexus to a “hold” rating in a research report on Saturday, August 30th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, FG Nexus currently has an average rating of “Hold” and an average target price of $10.00.

FG Nexus Company Profile

FG Financial Group, Inc operates as a reinsurance and investment management holding company in the United States. The company offers specialty property and casualty reinsurance products and services. It also operates a special purpose acquisition company platform (SPAC) that provides various strategic, administrative, and regulatory support services to newly formed SPACs for a monthly fee.