FG Nexus Inc (NASDAQ:FGNX) Stock Has Average Price Target of $35.00 According to Analysts

FG Nexus Inc (NASDAQ:FGNX) has earned an average recommendation of “Hold” from the four brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.00.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised FG Nexus from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Wall Street Zen raised shares of FG Nexus from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th.

Institutional Investors Weigh In On FG Nexus

A number of hedge funds and other institutional investors have recently made changes to their positions in FGNX. Citadel Advisors LLC acquired a new stake in FG Nexus during the second quarter worth approximately $1,246,000. BlackRock Inc. grew its holdings in shares of FG Nexus by 14.7% during the 2nd quarter. BlackRock Inc. now owns 150,000 shares of the company’s stock worth $776,000 after purchasing an additional 19,217 shares in the last quarter. United Capital Management of KS Inc. bought a new position in shares of FG Nexus in the fourth quarter worth $440,000. J. Derek Lewis & Associates Inc. bought a new position in shares of FG Nexus in the fourth quarter worth $324,000. Finally, State Street Corp acquired a new position in FG Nexus in the second quarter valued at about $195,000. 3.13% of the stock is currently owned by institutional investors and hedge funds.

FG Nexus Price Performance

Shares of NASDAQ:FGNX opened at $7.80 on Friday. The stock has a market cap of $36.72 million, a PE ratio of -1.12 and a beta of 1.09. FG Nexus has a 12-month low of $4.18 and a 12-month high of $31.80. The business has a 50 day moving average of $7.68 and a 200-day moving average of $6.73.

FG Nexus (NASDAQ:FGNX) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($3.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.45) by $3.38. FG Nexus had a negative return on equity of 95.68% and a negative net margin of 4,888.86%.The business had revenue of $0.24 million during the quarter. Equities research analysts expect that FG Nexus will post -12.62 earnings per share for the current year.

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.