FG Nexus Inc (NASDAQ:FGNX) Receives $8.50 Consensus PT from Brokerages

Shares of FG Nexus Inc (NASDAQ:FGNX) have received an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.50.

A number of equities research analysts have recently weighed in on the company. Litchfield Hills Research assumed coverage on FG Nexus in a research report on Tuesday, November 11th. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research note on Monday, December 29th. Wall Street Zen cut FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Zacks Research upgraded shares of FG Nexus to a “hold” rating in a research note on Friday, October 17th. Finally, B. Riley dropped their price objective on shares of FG Nexus from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, November 20th.

Hedge Funds Weigh In On FG Nexus

A hedge fund recently bought a new stake in FG Nexus stock. FNY Investment Advisers LLC purchased a new stake in shares of FG Nexus Inc (NASDAQ:FGNX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $68,000. FNY Investment Advisers LLC owned 0.06% of FG Nexus at the end of the most recent quarter. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

FG Nexus Stock Performance

FGNX stock opened at $3.01 on Friday. The firm’s fifty day simple moving average is $2.98. FG Nexus has a 52 week low of $2.30 and a 52 week high of $41.25. The company has a market cap of $119.11 million, a price-to-earnings ratio of -0.86 and a beta of 0.76.

FG Nexus (NASDAQ:FGNX) last released its earnings results on Friday, November 14th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. FG Nexus had a negative return on equity of 7.73% and a negative net margin of 64.92%.The company had revenue of $0.89 million during the quarter, compared to analyst estimates of $15.30 million.

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.