FG Nexus Inc (NASDAQ:FGNX) Receives $35.00 Average Target Price from Brokerages

FG Nexus Inc (NASDAQ:FGNX) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. One equities 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 12-month price objective among analysts that have issued a report on the stock in the last year is $35.00.

FGNX has been the subject of a number of research analyst reports. B. Riley Financial lowered their target price on FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings downgraded FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th.

FG Nexus Stock Performance

Shares of FG Nexus stock opened at $6.10 on Friday. FG Nexus has a 52-week low of $4.18 and a 52-week high of $206.25. The company has a fifty day moving average of $6.23 and a 200-day moving average of $7.93. The stock has a market capitalization of $35.01 million, a price-to-earnings ratio of 0.48 and a beta of 1.06.

FG Nexus (NASDAQ:FGNX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($5.88) EPS for the quarter. The business had revenue of $0.23 million during the quarter. On average, equities research analysts forecast that FG Nexus will post -25.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FG Nexus

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC purchased a new position in shares of FG Nexus during the fourth quarter valued at approximately $1,330,000. Everstar Asset Management LLC purchased a new stake in FG Nexus in the fourth quarter worth approximately $1,045,000. State Street Corp bought a new stake in FG Nexus in the 4th quarter worth approximately $500,000. Wolverine Asset Management LLC bought a new stake in FG Nexus in the 4th quarter worth approximately $465,000. Finally, United Capital Management of KS Inc. purchased a new stake in FG Nexus during the 4th quarter valued at $440,000. Institutional investors own 3.13% of the company’s stock.

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.