J. Derek Lewis & Associates Inc. Makes New $324,000 Investment in FG Nexus Inc $FGNX

J. Derek Lewis & Associates Inc. purchased a new position in shares of FG Nexus Inc (NASDAQ:FGNX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 118,000 shares of the company’s stock, valued at approximately $324,000.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. B. Riley Financial dropped their price target on FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings downgraded shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three 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. Based on data from MarketBeat.com, FG Nexus has a consensus rating of “Hold” and an average price target of $35.00.

FG Nexus Price Performance

NASDAQ FGNX opened at $5.67 on Monday. FG Nexus Inc has a fifty-two week low of $4.18 and a fifty-two week high of $206.25. The business has a fifty day moving average of $6.71 and a 200-day moving average of $9.50. The stock has a market cap of $32.55 million, a price-to-earnings ratio of 0.44 and a beta of 1.02.

FG Nexus 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.