Short Interest in FG Nexus Inc (NASDAQ:FGNX) Decreases By 76.2%

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 457,408 shares, a decrease of 76.2% from the January 29th total of 1,923,501 shares. Based on an average trading volume of 93,283 shares, the short-interest ratio is currently 4.9 days. Currently, 7.3% of the company’s stock are sold short. Currently, 7.3% of the company’s stock are sold short. Based on an average trading volume of 93,283 shares, the short-interest ratio is currently 4.9 days.

FG Nexus Stock Up 8.6%

FGNX stock opened at $7.56 on Thursday. FG Nexus has a 1-year low of $6.70 and a 1-year high of $206.25. The business has a 50 day simple moving average of $12.96. The company has a market cap of $49.59 million, a P/E ratio of -0.43 and a beta of 0.74.

Hedge Funds Weigh In On FG Nexus

Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC purchased a new position in FG Nexus during the fourth quarter valued at $31,000. FNY Investment Advisers LLC bought a new position in shares of FG Nexus during the 4th quarter valued at about $68,000. Millennium Management LLC purchased a new position in shares of FG Nexus during the fourth quarter valued at about $100,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of FG Nexus in the fourth quarter worth about $103,000. Finally, Aristides Capital LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth about $182,000. Institutional investors own 3.13% of the company’s stock.

Analyst Upgrades and Downgrades

FGNX has been the subject of several recent analyst reports. B. Riley Financial lowered their price target on FG Nexus from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen downgraded FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Weiss Ratings reissued 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 target price on the stock. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.50.

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.