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

FG Nexus Inc (NASDAQ:FGNX) has earned an average recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $35.00.

Several brokerages have issued reports on FGNX. Weiss Ratings cut shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Wall Street Zen raised shares of FG Nexus from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th.

FG Nexus Stock Performance

Shares of FGNX stock opened at $8.01 on Monday. The firm has a market capitalization of $40.85 million, a P/E ratio of -1.15 and a beta of 1.09. FG Nexus has a 52-week low of $4.18 and a 52-week high of $45.80. The stock has a 50 day moving average price of $7.00 and a 200 day moving average price of $6.63.

FG Nexus (NASDAQ:FGNX) last issued its earnings results on Wednesday, August 12th. The company reported ($3.07) EPS for the quarter, topping analysts’ consensus estimates of ($6.45) by $3.38. FG Nexus had a negative net margin of 4,888.86% and a negative return on equity of 95.68%. The business had revenue of $0.24 million for the quarter. As a group, sell-side analysts forecast that FG Nexus will post -12.62 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FGNX. Everstar Asset Management LLC purchased a new position in FG Nexus in the fourth quarter valued at about $1,045,000. Geode Capital Management LLC bought a new position in shares of FG Nexus during the 4th quarter worth approximately $1,330,000. LPL Financial LLC purchased a new stake in FG Nexus during the fourth quarter valued at approximately $31,000. Aristides Capital LLC purchased a new stake in FG Nexus during the fourth quarter valued at approximately $182,000. Finally, United Capital Management of KS Inc. acquired a new stake in shares of FG Nexus in the 4th quarter worth $440,000. 3.13% of the stock is owned by 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.