FG Communities (NASDAQ:FGC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of FG Communities (NASDAQ:FGC) from a strong sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of FG Communities from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

FG Communities Stock Down 2.0%

Shares of NASDAQ:FGC traded down $0.12 during trading on Friday, reaching $5.97. 44,332 shares of the company’s stock traded hands, compared to its average volume of 68,472. The firm has a market cap of $27.34 million, a PE ratio of -0.75 and a beta of 1.27. FG Communities has a fifty-two week low of $4.18 and a fifty-two week high of $16.95. The company has a 50-day simple moving average of $7.75 and a 200-day simple moving average of $7.18.

FG Communities (NASDAQ:FGC) last released its quarterly earnings results on Friday, November 6th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $0.23 million for the quarter. FG Communities had a negative return on equity of 136.34% and a negative net margin of 4,801.90%.

Hedge Funds Weigh In On FG Communities

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of FG Communities by 14.7% in the second quarter. BlackRock Inc. now owns 150,000 shares of the company’s stock valued at $776,000 after purchasing an additional 19,217 shares in the last quarter. State Street Corp acquired a new stake in FG Communities during the 2nd quarter worth approximately $195,000. Finally, Citadel Advisors LLC purchased a new position in FG Communities in the 2nd quarter valued at approximately $1,246,000. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

About FG Communities

FG Nexus, Inc. (NASDAQ: FGNX) is a diversified holding company focused on building and managing a portfolio of businesses across several industries. The company’s activities include investments and operating interests in financial services, media and entertainment, and related businesses. Through its subsidiaries and investments, FG Nexus provides access to services and products connected with financial solutions, entertainment technology, and other specialized operating activities. Its portfolio-oriented structure allows the company to pursue opportunities across multiple business sectors rather than relying on a single product line.