FG Nexus (NASDAQ:FGNX) Stock Rating Lowered by Wall Street Zen

FG Nexus (NASDAQ:FGNX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

FGNX has been the subject of several other research reports. Zacks Research raised FG Nexus to a “hold” rating in a research note on Friday, October 17th. ThinkEquity assumed coverage on shares of FG Nexus in a report on Monday, October 6th. They set a “buy” rating for the company. Litchfield Hills Research assumed coverage on shares of FG Nexus in a research report on Tuesday, November 11th. They set a “buy” rating and a $12.00 target price for the company. B. Riley lowered their price target on shares of FG Nexus from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.50.

FG Nexus Trading Down 8.1%

FGNX opened at $2.83 on Friday. FG Nexus has a 1-year low of $2.30 and a 1-year high of $41.25. The firm has a market cap of $111.99 million, a PE ratio of -0.81 and a beta of 0.84. The stock has a 50 day moving average price of $3.78.

FG Nexus (NASDAQ:FGNX) last issued its quarterly earnings data on Friday, November 14th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. The firm had revenue of $0.89 million during the quarter, compared to analysts’ expectations 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.