FG Nexus Inc (NASDAQ:FGNX) Short Interest Up 24.5% in March

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 387,944 shares, a growth of 24.5% from the February 26th total of 311,527 shares. Currently, 6.2% of the company’s shares are short sold. Based on an average daily volume of 85,089 shares, the short-interest ratio is currently 4.6 days.

Institutional Trading of FG Nexus

Several hedge funds and other institutional investors have recently bought and sold shares of FGNX. LPL Financial LLC purchased a new position in shares of FG Nexus in the 4th quarter valued at $31,000. FNY Investment Advisers LLC bought a new stake in FG Nexus during the fourth quarter valued at about $68,000. Millennium Management LLC purchased a new position in FG Nexus in the fourth quarter valued at about $100,000. Susquehanna Fundamental Investments LLC purchased a new position in FG Nexus in the fourth quarter valued at about $103,000. Finally, Aristides Capital LLC bought a new position in FG Nexus in the fourth quarter worth about $182,000. Institutional investors own 3.13% of the company’s stock.

Analyst Ratings Changes

FGNX has been the topic of several research reports. B. Riley Financial reduced their price objective on FG Nexus from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a research report on Friday. Finally, Wall Street Zen lowered FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FG Nexus has a consensus rating of “Hold” and an average target price of $36.50.

FG Nexus Trading Down 6.5%

Shares of FGNX traded down $0.35 during mid-day trading on Monday, hitting $5.03. The company’s stock had a trading volume of 112,504 shares, compared to its average volume of 87,244. The company’s 50-day moving average is $9.19 and its 200-day moving average is $16.07. FG Nexus has a 52-week low of $4.98 and a 52-week high of $206.25. The firm has a market capitalization of $33.00 million, a price-to-earnings ratio of -0.29 and a beta of 0.79.

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.