B. Riley Financial Lowers FG Nexus (NASDAQ:FGNX) Price Target to $10.00

FG Nexus (NASDAQ:FGNX) had its price target reduced by equities researchers at B. Riley Financial from $13.00 to $10.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price target would suggest a potential upside of 107.47% from the stock’s previous close.

A number of other analysts also recently issued reports on FGNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a report on Friday, March 27th. Wall Street Zen downgraded shares of 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

FG Nexus Stock Performance

FGNX stock opened at $4.82 on Tuesday. The company’s fifty day moving average price is $8.54 and its 200-day moving average price is $15.55. FG Nexus has a one year low of $4.66 and a one year high of $206.25. The company has a market capitalization of $31.47 million, a PE ratio of -0.28 and a beta of 0.86.

Institutional Inflows and Outflows

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

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.