FG Nexus Inc (NASDAQ:FGNX) Short Interest Down 31.9% in February

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 311,527 shares, a drop of 31.9% from the February 12th total of 457,408 shares. Based on an average daily trading volume, of 80,539 shares, the short-interest ratio is currently 3.9 days. Approximately 5.0% of the shares of the company are sold short. Approximately 5.0% of the shares of the company are sold short. Based on an average daily trading volume, of 80,539 shares, the short-interest ratio is currently 3.9 days.

FG Nexus Trading Up 2.7%

FGNX stock traded up $0.18 during trading on Friday, reaching $6.85. 94,825 shares of the company’s stock were exchanged, compared to its average volume of 87,066. FG Nexus has a 1-year low of $6.52 and a 1-year high of $206.25. The stock has a market capitalization of $44.94 million, a price-to-earnings ratio of -0.39 and a beta of 0.79. The company has a fifty day simple moving average of $11.05.

Institutional Investors Weigh In On FG Nexus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in FG Nexus in the 4th quarter valued at about $68,000. Wolverine Asset Management LLC bought a new stake in shares of FG Nexus during the 4th quarter worth about $465,000. Everstar Asset Management LLC acquired a new stake in shares of FG Nexus in the 4th quarter worth approximately $1,045,000. Geode Capital Management LLC acquired a new stake in shares of FG Nexus in the 4th quarter worth approximately $1,330,000. Finally, LPL Financial LLC bought a new position in shares of FG Nexus in the fourth quarter valued at approximately $31,000. 3.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FGNX. B. Riley Financial reduced their price target on shares of FG Nexus from $25.00 to $13.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Wall Street Zen cut shares of FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, FG Nexus presently has a consensus rating of “Hold” and a consensus target price of $36.50.

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. The company was formerly known as 1347 Property Insurance Holdings, Inc and changed its name to FG Financial Group, Inc in December 2020.