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

FG Nexus Inc (NASDAQ:FGNX) has earned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.00.

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

FG Nexus Trading Up 3.0%

Shares of NASDAQ:FGNX opened at $5.50 on Wednesday. The stock has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $9.35. The stock has a market capitalization of $31.57 million, a price-to-earnings ratio of 0.43 and a beta of 1.02. FG Nexus has a 12-month low of $4.18 and a 12-month high of $206.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FGNX. LPL Financial LLC purchased a new position in shares of FG Nexus in the fourth quarter worth $31,000. FNY Investment Advisers LLC purchased a new position in shares of FG Nexus in the fourth quarter worth $68,000. Millennium Management LLC purchased a new position in shares of FG Nexus in the fourth quarter worth $100,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of FG Nexus in the fourth quarter worth $103,000. Finally, Aristides Capital LLC purchased a new position in shares of FG Nexus in the fourth quarter worth $182,000. 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.