FG Nexus (NASDAQ:FGNX) Downgraded by Wall Street Zen to Sell

FG Nexus (NASDAQ:FGNX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

FGNX has been the topic of several other research reports. ThinkEquity began coverage on FG Nexus in a research report on Monday, October 6th. They set a “buy” rating on the stock. Litchfield Hills Research initiated coverage on shares of FG Nexus in a research note on Tuesday, November 11th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research report on Tuesday. B. Riley lowered their target price on shares of FG Nexus from $8.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Zacks Research upgraded shares of FG Nexus to a “hold” rating in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.50.

FG Nexus Stock Performance

Shares of NASDAQ:FGNX opened at $2.83 on Friday. FG Nexus has a 52 week low of $2.30 and a 52 week high of $41.25. The firm has a 50 day moving average price of $3.78. The stock has a market cap of $111.99 million, a P/E ratio of -0.81 and a beta of 0.84.

FG Nexus (NASDAQ:FGNX) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The company had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $15.30 million. FG Nexus had a negative return on equity of 7.73% and a negative net margin of 64.92%.

About FG Nexus

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.