FG Nexus Inc (NASDAQ:FGNX) Stock Has Average Target Price of $35.00 According to Brokerages

Shares of FG Nexus Inc (NASDAQ:FGNX) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings 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 1-year target price among brokers that have issued a report on the stock in the last year is $35.00.

FGNX has been the topic of a number of recent research reports. Wall Street Zen raised FG Nexus from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded FG Nexus from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th.

Institutional Trading of FG Nexus

A number of hedge funds and other institutional investors have recently bought and sold shares of FGNX. State Street Corp purchased a new stake in FG Nexus in the 2nd quarter worth approximately $195,000. Citadel Advisors LLC bought a new position in FG Nexus in the 2nd quarter valued at $1,246,000. BlackRock Inc. grew its position in shares of FG Nexus by 14.7% during the 2nd quarter. BlackRock Inc. now owns 150,000 shares of the company’s stock valued at $776,000 after purchasing an additional 19,217 shares in the last quarter. J. Derek Lewis & Associates Inc. purchased a new position in shares of FG Nexus during the 4th quarter valued at $324,000. Finally, Aristides Capital LLC bought a new position in shares of FG Nexus in the fourth quarter worth $182,000. Institutional investors own 3.13% of the company’s stock.

FG Nexus Stock Performance

Shares of FG Nexus stock opened at $7.80 on Friday. The stock has a market capitalization of $36.72 million, a P/E ratio of -1.12 and a beta of 1.09. The stock’s 50-day simple moving average is $7.62 and its 200 day simple moving average is $6.71. FG Nexus has a 52-week low of $4.18 and a 52-week high of $31.80.

FG Nexus (NASDAQ:FGNX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($3.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.45) by $3.38. The business had revenue of $0.24 million during the quarter. FG Nexus had a negative net margin of 4,888.86% and a negative return on equity of 95.68%. Equities research analysts forecast that FG Nexus will post -12.62 EPS for the current fiscal year.

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.