Brokerages Set FG Nexus Inc (NASDAQ:FGNX) Target Price at $35.00

FG Nexus Inc (NASDAQ:FGNX) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.00.

A number of analysts have recently commented on FGNX shares. Wall Street Zen upgraded FG Nexus from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of FG Nexus in a research report on Friday, August 7th.

Hedge Funds Weigh In On FG Nexus

Hedge funds have recently modified their holdings of the business. LPL Financial LLC purchased a new stake in FG Nexus in the 4th quarter valued at $31,000. Millennium Management LLC acquired a new stake in FG Nexus during the 4th quarter worth approximately $100,000. Susquehanna Fundamental Investments LLC acquired a new stake in FG Nexus during the 4th quarter worth approximately $103,000. Aristides Capital LLC purchased a new position in shares of FG Nexus in the 4th quarter valued at approximately $182,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of FG Nexus in the fourth quarter valued at approximately $239,000. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

FG Nexus Trading Down 2.3%

Shares of FG Nexus stock opened at $6.95 on Thursday. The company has a fifty day simple moving average of $6.17 and a 200-day simple moving average of $6.90. The stock has a market cap of $35.45 million, a price-to-earnings ratio of 0.54 and a beta of 1.03. FG Nexus has a 12-month low of $4.18 and a 12-month high of $92.10.

FG Nexus (NASDAQ:FGNX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($5.88) EPS for the quarter. FG Nexus had a negative return on equity of 95.68% and a negative net margin of 4,888.86%.The company had revenue of $0.23 million for the quarter. On average, analysts forecast that FG Nexus will post -25.24 earnings per share for the current fiscal year.

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.