B. Riley Financial Issues Pessimistic Forecast for FG Nexus (NASDAQ:FGNX) Stock Price

FG Nexus (NASDAQ:FGNX) had its target price dropped by equities research analysts at B. Riley Financial from $25.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential upside of 85.45% from the stock’s current price.

A number of other research analysts have also recently commented on FGNX. Litchfield Hills Research began coverage on FG Nexus in a research note on Tuesday, November 11th. They issued a “buy” rating and a $60.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.50.

FG Nexus Price Performance

FGNX traded down $0.53 on Monday, hitting $7.01. The company had a trading volume of 31,889 shares, compared to its average volume of 90,553. The business has a fifty day simple moving average of $13.37. The firm has a market cap of $45.99 million, a price-to-earnings ratio of -0.40 and a beta of 0.74. FG Nexus has a 52-week low of $6.90 and a 52-week high of $206.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FGNX. Geode Capital Management LLC purchased a new stake in shares of FG Nexus during the fourth quarter valued at approximately $1,330,000. Everstar Asset Management LLC bought a new position in FG Nexus in the 4th quarter valued at approximately $1,045,000. State Street Corp bought a new position in FG Nexus in the 4th quarter valued at approximately $500,000. Wolverine Asset Management LLC purchased a new stake in FG Nexus during the 4th quarter valued at $465,000. Finally, United Capital Management of KS Inc. purchased a new stake in FG Nexus during the 4th quarter valued at $440,000. 3.13% of the stock is owned by hedge funds and other institutional investors.

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.