FG Nexus Inc (NASDAQ:FGNX) Short Interest Update

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 387,944 shares, a growth of 24.5% from the February 26th total of 311,527 shares. Based on an average daily trading volume, of 85,089 shares, the short-interest ratio is presently 4.6 days. Currently, 6.2% of the shares of the company are short sold.

FG Nexus Stock Performance

Shares of NASDAQ FGNX traded down $0.25 during trading hours on Wednesday, reaching $4.74. 44,740 shares of the stock were exchanged, compared to its average volume of 86,477. The firm has a market capitalization of $31.07 million, a price-to-earnings ratio of -0.27 and a beta of 0.79. FG Nexus has a 52 week low of $4.71 and a 52 week high of $206.25. The stock’s fifty day simple moving average is $8.76 and its 200 day simple moving average is $15.63.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FGNX. Wall Street Zen lowered FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. B. Riley Financial cut their price target on FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On FG Nexus

Several institutional investors and hedge funds have recently modified their holdings of FGNX. LPL Financial LLC acquired a new stake in FG Nexus in the 4th quarter worth about $31,000. FNY Investment Advisers LLC acquired a new position in shares of FG Nexus during the 4th quarter worth approximately $68,000. Millennium Management LLC acquired a new position in shares of FG Nexus during the 4th quarter worth approximately $100,000. Susquehanna Fundamental Investments LLC bought a new position in shares of FG Nexus during the fourth quarter worth approximately $103,000. Finally, Aristides Capital LLC acquired a new stake in shares of FG Nexus in the fourth quarter valued at approximately $182,000. 3.13% of the stock is currently owned by institutional investors and hedge funds.

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.