FG Nexus Inc (NASDAQ:FGNX) Given Average Recommendation of “Hold” by Brokerages

FG Nexus Inc (NASDAQ:FGNX) has been given a consensus rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Litchfield Hills Research started coverage on shares of FG Nexus in a research note on Tuesday, November 11th. They issued a “buy” rating and a $60.00 target price for the company. B. Riley Financial reduced their target price on FG Nexus from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FGNX. Geode Capital Management LLC bought a new position in FG Nexus in the 4th quarter valued at $1,330,000. Everstar Asset Management LLC acquired a new stake in FG Nexus in the fourth quarter worth about $1,045,000. State Street Corp acquired a new stake in FG Nexus in the fourth quarter worth about $500,000. Wolverine Asset Management LLC bought a new stake in FG Nexus during the 4th quarter worth about $465,000. Finally, United Capital Management of KS Inc. acquired a new position in FG Nexus during the 4th quarter valued at about $440,000. 3.13% of the stock is owned by institutional investors.

FG Nexus Price Performance

Shares of NASDAQ:FGNX opened at $7.86 on Thursday. The firm has a fifty day moving average price of $13.61. FG Nexus has a 52 week low of $7.77 and a 52 week high of $206.25. The firm has a market cap of $51.56 million, a P/E ratio of -2.25 and a beta of 0.74.

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.