FG Nexus Inc (NASDAQ:FGNX) Sees Large Growth in Short Interest

FG Nexus Inc (NASDAQ:FGNX) was the target of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 1,923,501 shares, a growth of 46.6% from the January 15th total of 1,312,123 shares. Based on an average daily volume of 428,481 shares, the short-interest ratio is presently 4.5 days. Approximately 5.1% of the shares of the company are short sold. Approximately 5.1% of the shares of the company are short sold. Based on an average daily volume of 428,481 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

FGNX has been the subject of a number of recent research reports. Wall Street Zen cut shares of FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. B. Riley Financial reduced their price target on shares of FG Nexus from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research note on Monday, December 29th. Finally, Litchfield Hills Research started coverage on shares of FG Nexus in a research note on Tuesday, November 11th. They set a “buy” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, FG Nexus currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Institutional Investors Weigh In On FG Nexus

Several institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new position in FG Nexus in the 4th quarter valued at $31,000. FNY Investment Advisers LLC acquired a new stake in shares of FG Nexus in the 4th quarter worth approximately $68,000. Aristides Capital LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $182,000. United Capital Management of KS Inc. purchased a new position in FG Nexus during the 4th quarter valued at about $440,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of FG Nexus during the 4th quarter worth approximately $465,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.

FG Nexus Trading Up 2.2%

NASDAQ:FGNX opened at $8.74 on Friday. FG Nexus has a twelve month low of $7.95 and a twelve month high of $206.25. The stock has a 50-day simple moving average of $14.04. The stock has a market capitalization of $57.33 million, a P/E ratio of -2.50 and a beta of 0.74.

FG Nexus (NASDAQ:FGNX) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.50 by $0.40. FG Nexus had a negative return on equity of 7.73% and a negative net margin of 64.92%.The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $15.30 million.

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.