Brokerages Set FG Nexus Inc (NASDAQ:FGNX) Price Target at $36.50

FG Nexus Inc (NASDAQ:FGNX) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $36.50.

Several research analysts have weighed in on the company. B. Riley Financial lowered their price objective on FG Nexus from $25.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th.

FG Nexus Trading Down 5.0%

NASDAQ:FGNX opened at $7.04 on Monday. The stock has a 50 day simple moving average of $10.53 and a 200 day simple moving average of $18.39. The stock has a market cap of $46.18 million, a P/E ratio of -0.40 and a beta of 0.79. FG Nexus has a 1-year low of $6.52 and a 1-year high of $206.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of FG Nexus in the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC acquired a new stake in FG Nexus during the fourth quarter worth approximately $68,000. Millennium Management LLC bought a new position in FG Nexus during the 4th quarter worth $100,000. Susquehanna Fundamental Investments LLC acquired a new position in FG Nexus in the 4th quarter valued at $103,000. Finally, Aristides Capital LLC acquired a new position in FG Nexus in the 4th quarter valued at $182,000. 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.