FG Nexus Inc (NASDAQ:FGNX) Given Average Recommendation of “Hold” by Analysts

Shares of FG Nexus Inc (NASDAQ:FGNX) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $35.00.

Several brokerages have commented on FGNX. Wall Street Zen downgraded FG Nexus from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, B. Riley Financial dropped their price target on FG Nexus from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st.

FG Nexus Stock Down 6.3%

Shares of NASDAQ FGNX opened at $5.17 on Wednesday. The business’s 50 day moving average is $6.63 and its two-hundred day moving average is $9.01. The company has a market cap of $29.68 million, a P/E ratio of 0.40 and a beta of 1.02. FG Nexus has a 12 month low of $4.18 and a 12 month high of $206.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new position in FG Nexus in the 4th quarter worth approximately $1,330,000. Everstar Asset Management LLC bought a new stake in shares of FG Nexus during the fourth quarter valued at approximately $1,045,000. State Street Corp bought a new stake in shares of FG Nexus during the fourth quarter valued at approximately $500,000. Wolverine Asset Management LLC bought a new stake in shares of FG Nexus during the fourth quarter valued at approximately $465,000. Finally, United Capital Management of KS Inc. bought a new stake in shares of FG Nexus during the fourth quarter valued at approximately $440,000. 3.13% of the stock is owned by institutional investors.

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