FG Nexus Inc (NASDAQ:FGNX) Given Average Recommendation of “Hold” by Analysts

FG Nexus Inc (NASDAQ:FGNX) has earned an average rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.00.

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

FG Nexus Price Performance

FGNX opened at $8.71 on Friday. The company’s 50 day simple moving average is $6.42 and its two-hundred day simple moving average is $10.29. FG Nexus has a 1-year low of $4.18 and a 1-year high of $206.25. The firm has a market capitalization of $54.52 million, a price-to-earnings ratio of 0.68 and a beta of 0.91.

Institutional Trading of FG Nexus

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC purchased a new stake in shares of FG Nexus during the 4th quarter valued at approximately $1,330,000. Everstar Asset Management LLC purchased a new stake in shares of FG Nexus during the 4th quarter valued at approximately $1,045,000. State Street Corp purchased a new stake in shares of FG Nexus during the 4th quarter valued at approximately $500,000. Wolverine Asset Management LLC purchased a new stake in shares of FG Nexus during the 4th quarter valued at approximately $465,000. Finally, United Capital Management of KS Inc. purchased a new stake in shares of FG Nexus during the 4th quarter valued at approximately $440,000. Hedge funds and other 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.