Fundamental Global (NASDAQ:FGF) Stock Price Down 11.4% – Here’s Why

Fundamental Global Inc. (NASDAQ:FGF) shares fell 11.4% during mid-day trading on Monday . The company traded as low as $5.75 and last traded at $5.89. 523,727 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 306,768 shares. The stock had previously closed at $6.65.

Fundamental Global Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.01. The company has a market cap of $7.57 million, a PE ratio of 4.50 and a beta of 0.93. The business’s fifty day moving average is $16.13 and its 200-day moving average is $16.76.

Fundamental Global (NASDAQ:FGF) last released its earnings results on Thursday, August 7th. The company reported $3.60 EPS for the quarter. The firm had revenue of $15.32 million for the quarter.

Institutional Investors Weigh In On Fundamental Global

A hedge fund recently raised its stake in Fundamental Global stock. Everstar Asset Management LLC boosted its position in shares of Fundamental Global Inc. (NASDAQ:FGF) by 89.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,000 shares of the company’s stock after acquiring an additional 28,855 shares during the period. Everstar Asset Management LLC owned 4.80% of Fundamental Global worth $1,090,000 at the end of the most recent quarter. 3.13% of the stock is owned by institutional investors.

About Fundamental Global

Fundamental Global Inc engages in reinsurance, merchant banking, and asset management business. The company offers initial public offering services. It also offers specialty property and casualty reinsurance services. In addition, the company provides investment advisory services. The company was formerly known as Ballantyne Strong, Inc and changed its name to FG Group Holdings Inc in December 2022.