Short Interest in FG Nexus Inc (NASDAQ:FGNX) Decreases By 76.2%

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 457,408 shares, a decline of 76.2% from the January 29th total of 1,923,501 shares. Based on an average trading volume of 93,283 shares, the days-to-cover ratio is currently 4.9 days. Currently, 7.3% of the company’s shares are sold short. Currently, 7.3% of the company’s shares are sold short. Based on an average trading volume of 93,283 shares, the days-to-cover ratio is currently 4.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FGNX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. Litchfield Hills Research began coverage on FG Nexus in a report on Tuesday, November 11th. They issued a “buy” rating and a $60.00 price objective on the stock. B. Riley Financial dropped their target price on FG Nexus from $25.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Finally, Wall Street Zen lowered FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.50.

FG Nexus Trading Up 8.6%

Shares of NASDAQ:FGNX opened at $7.56 on Thursday. The company’s 50-day moving average price is $12.96. The company has a market capitalization of $49.59 million, a P/E ratio of -0.43 and a beta of 0.74. FG Nexus has a 12 month low of $6.70 and a 12 month high of $206.25.

Institutional Investors Weigh In On FG Nexus

Several institutional investors and hedge funds have recently bought and sold shares of FGNX. LPL Financial LLC purchased a new position in shares of FG Nexus during the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC bought a new stake in FG Nexus in the fourth quarter valued at $68,000. Millennium Management LLC purchased a new position in FG Nexus during the 4th quarter valued at $100,000. Susquehanna Fundamental Investments LLC bought a new position in FG Nexus in the 4th quarter worth $103,000. Finally, Aristides Capital LLC bought a new position in FG Nexus in the 4th quarter worth $182,000. Hedge funds and other 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.