FG Nexus (NASDAQ:FGNX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of FG Nexus (NASDAQ:FGNX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research firms have also recently weighed in on FGNX. Litchfield Hills Research started coverage on FG Nexus in a research note on Tuesday, November 11th. They issued a “buy” rating and a $12.00 price target for the company. ThinkEquity assumed coverage on FG Nexus in a report on Monday, October 6th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research note on Tuesday. Zacks Research raised shares of FG Nexus to a “hold” rating in a report on Friday, October 17th. Finally, B. Riley reduced their price target on shares of FG Nexus from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

FG Nexus Stock Down 8.1%

Shares of NASDAQ:FGNX opened at $2.83 on Friday. The business has a 50-day moving average of $3.78. FG Nexus has a fifty-two week low of $2.30 and a fifty-two week high of $41.25. The stock has a market cap of $111.98 million, a P/E ratio of -0.81 and a beta of 0.84.

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

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.