B. Riley Financial Lowers FG Nexus (NASDAQ:FGNX) Price Target to $13.00

FG Nexus (NASDAQ:FGNX) had its price objective reduced by equities research analysts at B. Riley Financial from $25.00 to $13.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 85.45% from the company’s current price.

Several other research firms have also recently weighed in on FGNX. Litchfield Hills Research assumed coverage on shares of FG Nexus in a report on Tuesday, November 11th. They set a “buy” rating and a $60.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research note on Monday, December 29th. Finally, Wall Street Zen cut FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.50.

FG Nexus Stock Down 7.0%

FGNX traded down $0.53 during midday trading on Monday, hitting $7.01. 31,889 shares of the company traded hands, compared to its average volume of 90,553. The firm has a 50-day moving average of $13.37. The firm has a market cap of $45.99 million, a price-to-earnings ratio of -0.40 and a beta of 0.74. FG Nexus has a 52 week low of $6.90 and a 52 week high of $206.25.

Institutional Investors Weigh In On FG Nexus

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

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.