Brokerages Set FG Nexus Inc (NASDAQ:FGNX) Target Price at $42.50

Shares of FG Nexus Inc (NASDAQ:FGNX) have earned a consensus rating of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $36.50.

FGNX has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Nexus in a report on Monday, December 29th. B. Riley Financial decreased their target price on shares of FG Nexus from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen downgraded shares of FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Litchfield Hills Research started coverage on FG Nexus in a report on Tuesday, November 11th. They set a “buy” rating and a $60.00 price objective on the stock.

Institutional Trading of FG Nexus

Several institutional investors have recently modified their holdings of FGNX. Geode Capital Management LLC acquired a new position in shares of FG Nexus in the fourth quarter worth approximately $1,330,000. Everstar Asset Management LLC bought a new position in FG Nexus during the 4th quarter worth approximately $1,045,000. State Street Corp bought a new position in FG Nexus during the 4th quarter worth approximately $500,000. Wolverine Asset Management LLC acquired a new position in shares of FG Nexus in the 4th quarter worth approximately $465,000. Finally, United Capital Management of KS Inc. bought a new stake in shares of FG Nexus in the 4th quarter valued at $440,000. Institutional investors own 3.13% of the company’s stock.

FG Nexus Stock Performance

Shares of NASDAQ FGNX opened at $6.81 on Thursday. The firm has a market capitalization of $44.67 million, a P/E ratio of -0.39 and a beta of 0.74. FG Nexus has a 12 month low of $6.70 and a 12 month high of $206.25. The business’s 50-day simple moving average is $13.24.

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.