FG Nexus Inc (NASDAQ:FGNX) Receives $8.50 Consensus Target Price from Analysts

Shares of FG Nexus Inc (NASDAQ:FGNX) have received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

Several research firms have recently weighed in on FGNX. ThinkEquity initiated coverage on FG Nexus in a research note on Monday, October 6th. They set a “buy” rating for the company. Wall Street Zen lowered shares of FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research note on Monday. Zacks Research raised shares of FG Nexus to a “hold” rating in a research report on Friday, October 17th. Finally, Litchfield Hills Research initiated coverage on shares of FG Nexus in a research note on Tuesday, November 11th. They set a “buy” rating and a $12.00 price target on the stock.

FG Nexus Price Performance

NASDAQ FGNX opened at $3.16 on Friday. The stock has a market capitalization of $125.04 million, a P/E ratio of -0.90 and a beta of 0.84. FG Nexus has a 52-week low of $2.30 and a 52-week high of $41.25. The stock’s 50-day moving average is $3.62.

FG Nexus (NASDAQ:FGNX) last released its 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. FG Nexus had a negative net margin of 64.92% and a negative return on equity of 7.73%. 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.