Analysts Set FG Nexus Inc (NASDAQ:FGNX) Target Price at $35.00

Shares of FG Nexus Inc (NASDAQ:FGNX) have received an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.00.

A number of equities analysts recently issued reports on the stock. B. Riley Financial dropped their target price 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. Weiss Ratings downgraded shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. 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.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FGNX. J. Derek Lewis & Associates Inc. acquired a new stake in FG Nexus during the fourth quarter worth about $324,000. Aristides Capital LLC acquired a new position in FG Nexus in the 4th quarter valued at approximately $182,000. XTX Topco Ltd acquired a new position in FG Nexus in the 4th quarter valued at approximately $420,000. Susquehanna Fundamental Investments LLC acquired a new position in FG Nexus in the 4th quarter valued at approximately $103,000. Finally, Millennium Management LLC bought a new stake in shares of FG Nexus in the 4th quarter worth approximately $100,000. Institutional investors and hedge funds own 3.13% of the company’s stock.

FG Nexus Stock Up 6.6%

Shares of NASDAQ FGNX opened at $6.61 on Friday. The business’s 50 day moving average is $6.25 and its two-hundred day moving average is $8.05. The company has a market cap of $37.94 million, a P/E ratio of 0.52 and a beta of 1.06. FG Nexus has a 12 month low of $4.18 and a 12 month high of $206.25.

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

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.