Brokerages Set FG Nexus Inc (NASDAQ:FGNX) PT at $8.50

FG Nexus Inc (NASDAQ:FGNX) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.50.

FGNX has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. ThinkEquity initiated coverage on shares of FG Nexus in a research note on Monday, October 6th. They issued a “buy” rating on the stock. Wall Street Zen cut shares of FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Zacks Research upgraded shares of FG Nexus to a “hold” rating in a report on Friday, October 17th. Finally, Litchfield Hills Research assumed coverage on shares of FG Nexus in a research report on Tuesday, November 11th. They issued a “buy” rating and a $12.00 price objective on the stock.

FG Nexus Trading Down 0.9%

Shares of NASDAQ:FGNX opened at $3.20 on Wednesday. The company has a market cap of $126.62 million, a P/E ratio of -0.91 and a beta of 0.76. FG Nexus has a 12 month low of $2.30 and a 12 month high of $41.25. The firm has a 50-day simple moving average of $3.00.

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

About FG Nexus

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.