FG Nexus Inc (NASDAQ:FGNX) Receives $8.50 Average Price Target from Analysts

FG Nexus Inc (NASDAQ:FGNX) has been given an average rating of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.50.

FGNX has been the topic of a number of analyst reports. Zacks Research upgraded shares of FG Nexus to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. ThinkEquity initiated coverage on shares of FG Nexus in a research note on Monday, October 6th. They issued a “buy” rating for the company. Litchfield Hills Research initiated coverage on FG Nexus in a research note on Tuesday, November 11th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Wall Street Zen downgraded FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th.

FG Nexus Price Performance

NASDAQ:FGNX opened at $3.23 on Wednesday. The company has a market cap of $127.82 million, a price-to-earnings ratio of -0.92 and a beta of 0.76. The company has a 50 day moving average of $3.03. FG Nexus has a 1 year low of $2.30 and a 1 year high of $41.25.

FG Nexus (NASDAQ:FGNX) last released its quarterly earnings results on Friday, November 14th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.08. The company had revenue of $0.89 million for the quarter, compared to analyst estimates of $15.30 million. FG Nexus had a negative return on equity of 7.73% and a negative net margin of 64.92%.

About FG Nexus

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.