FG Nexus Inc (NASDAQ:FGNX) Short Interest Update

FG Nexus Inc (NASDAQ:FGNX) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 1,355,185 shares, a growth of 1,696.2% from the December 15th total of 75,447 shares. Based on an average daily trading volume, of 1,105,460 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.6% of the shares of the stock are sold short. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,105,460 shares, the days-to-cover ratio is presently 1.2 days.

FG Nexus Stock Performance

FGNX stock traded up $0.06 during midday trading on Monday, reaching $3.32. The company’s stock had a trading volume of 507,737 shares, compared to its average volume of 864,780. The stock’s 50-day moving average price is $2.96. FG Nexus has a 52 week low of $2.30 and a 52 week high of $41.25.

FG Nexus (NASDAQ:FGNX) last issued its earnings results on Friday, November 14th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.10 by $0.08. FG Nexus had a negative net margin of 64.92% and a negative return on equity of 7.73%. The company had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $15.30 million.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FGNX. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. Litchfield Hills Research initiated coverage on shares of FG Nexus in a report on Tuesday, November 11th. They issued a “buy” rating and a $12.00 price target for the company. Wall Street Zen downgraded FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. ThinkEquity initiated coverage on FG Nexus in a research note on Monday, October 6th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded FG Nexus to a “hold” rating in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.50.

About FG Nexus

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. The company was formerly known as 1347 Property Insurance Holdings, Inc and changed its name to FG Financial Group, Inc in December 2020.