FG Nexus Inc (NASDAQ:FGNX) Given Consensus Rating of “Hold” by Brokerages

FG Nexus Inc (NASDAQ:FGNX) has been assigned a consensus recommendation of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $35.00.

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

FG Nexus Stock Performance

Shares of NASDAQ:FGNX opened at $6.07 on Friday. FG Nexus has a 52 week low of $4.18 and a 52 week high of $206.25. The firm has a market cap of $34.84 million, a PE ratio of 0.48 and a beta of 1.06. The firm’s fifty day moving average is $6.25 and its 200-day moving average is $8.19.

FG Nexus (NASDAQ:FGNX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($5.88) earnings per share for the quarter. The company had revenue of $0.23 million during the quarter. Sell-side analysts forecast that FG Nexus will post -25.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new stake in shares of FG Nexus in the 4th quarter valued at $1,330,000. Everstar Asset Management LLC bought a new position in FG Nexus during the fourth quarter worth $1,045,000. State Street Corp bought a new position in FG Nexus during the fourth quarter worth $500,000. Wolverine Asset Management LLC bought a new position in FG Nexus during the fourth quarter worth $465,000. Finally, United Capital Management of KS Inc. acquired a new position in FG Nexus in the fourth quarter valued at $440,000. 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.