FG Nexus Inc (NASDAQ:FGNX) Sees Significant Increase in Short Interest

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 1,355,185 shares, an increase of 1,696.2% from the December 15th total of 75,447 shares. Based on an average daily volume of 1,105,460 shares, the short-interest ratio is currently 1.2 days. Approximately 3.6% of the shares of the company are short sold. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 1,105,460 shares, the short-interest ratio is currently 1.2 days.

FG Nexus Price Performance

Shares of FGNX opened at $3.24 on Wednesday. The stock has a 50 day simple moving average of $2.96. FG Nexus has a 12-month low of $2.30 and a 12-month high of $41.25. The firm has a market cap of $128.22 million, a PE ratio of -0.93 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FGNX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. B. Riley decreased their price target on FG Nexus from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Wall Street Zen cut shares of FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. ThinkEquity started coverage on shares of FG Nexus in a report on Monday, October 6th. They issued a “buy” rating for the company. Finally, Litchfield Hills Research started coverage on shares of FG Nexus in a research note on Tuesday, November 11th. They set a “buy” rating and a $12.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, FG Nexus currently has an average rating of “Hold” and a consensus target price of $8.50.

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.