FG Nexus Inc (NASDAQ:FGNX) Receives $35.00 Average Price Target from Analysts

Shares of FG Nexus Inc (NASDAQ:FGNX) have received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $35.00.

FGNX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FG Nexus in a research report on Friday, August 7th. Wall Street Zen raised FG Nexus from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th.

Institutional Inflows and Outflows

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

FG Nexus Stock Down 0.9%

FG Nexus stock opened at $7.32 on Thursday. The company has a 50 day moving average of $6.22 and a 200-day moving average of $6.80. The stock has a market capitalization of $37.30 million, a PE ratio of -1.05 and a beta of 1.03. FG Nexus has a twelve month low of $4.18 and a twelve month high of $84.68.

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

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.