Brokerages Set FG Nexus Inc (NASDAQ:FGNX) Target Price at $35.00

FG Nexus Inc (NASDAQ:FGNX) has been given a consensus recommendation of “Hold” by the five research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.00.

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

FG Nexus Price Performance

NASDAQ FGNX opened at $6.55 on Friday. The company has a market cap of $37.60 million, a P/E ratio of 0.51 and a beta of 1.06. The stock has a 50-day moving average of $6.24 and a two-hundred day moving average of $7.92. FG Nexus has a 1-year low of $4.18 and a 1-year high of $206.25.

FG Nexus (NASDAQ:FGNX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($5.88) earnings per share (EPS) for the quarter. The firm had revenue of $0.23 million for the quarter. On average, analysts anticipate that FG Nexus will post -25.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC acquired a new position in FG Nexus during the 4th quarter worth $31,000. FNY Investment Advisers LLC purchased a new stake in FG Nexus during the 4th quarter worth about $68,000. Millennium Management LLC acquired a new stake in FG Nexus in the 4th quarter valued at about $100,000. Susquehanna Fundamental Investments LLC acquired a new stake in FG Nexus in the 4th quarter valued at about $103,000. Finally, Aristides Capital LLC acquired a new stake in FG Nexus in the 4th quarter valued at about $182,000. 3.13% of the stock is currently owned by hedge funds and other 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.