FG Nexus (NASDAQ:FGNX) Stock Rating Lowered by Wall Street Zen

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

Several other brokerages have also recently commented on FGNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Nexus in a research note on Tuesday, December 2nd. B. Riley dropped their target price on shares of FG Nexus from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Litchfield Hills Research started coverage on shares of FG Nexus in a report on Tuesday, November 11th. They set a “buy” rating and a $12.00 target price for the company. ThinkEquity initiated coverage on FG Nexus in a report on Monday, October 6th. They issued a “buy” rating on the stock. Finally, Zacks Research upgraded FG Nexus to a “hold” rating in a research report on Friday, October 17th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.50.

FG Nexus Price Performance

FGNX stock opened at $2.83 on Friday. The company has a 50 day moving average price of $3.78. FG Nexus has a twelve month low of $2.30 and a twelve month high of $41.25. The firm has a market capitalization of $111.98 million, a P/E ratio of -0.81 and a beta of 0.84.

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

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.