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

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

A number of analysts have recently issued reports on FGNX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a research note on Friday, March 27th. B. Riley Financial reduced their price objective on shares of FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st.

FG Nexus Price Performance

Shares of FGNX stock opened at $6.74 on Tuesday. FG Nexus has a 1 year low of $4.18 and a 1 year high of $206.25. The firm has a fifty day moving average price of $6.38 and a 200-day moving average price of $11.49. The company has a market cap of $43.34 million, a price-to-earnings ratio of -0.39 and a beta of 0.91.

Institutional Trading of FG Nexus

Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth $31,000. FNY Investment Advisers LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth $68,000. Millennium Management LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth $100,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth $103,000. Finally, Aristides Capital LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth $182,000. 3.13% of the stock is owned by hedge funds and other institutional investors.

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.