FG Nexus Inc (NASDAQ:FGNX) Stock Has Average Target Price of $35.00

FG Nexus Inc (NASDAQ:FGNX) has been assigned an average rating of “Hold” from the four research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.00.

Several brokerages recently issued reports on FGNX. Weiss Ratings upgraded FG Nexus from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. Wall Street Zen raised FG Nexus from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th.

Institutional Investors Weigh In On FG Nexus

Hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new stake in shares of FG Nexus in the 2nd quarter worth $195,000. Citadel Advisors LLC acquired a new stake in FG Nexus in the second quarter valued at $1,246,000. BlackRock Inc. lifted its stake in shares of FG Nexus by 14.7% in the second quarter. BlackRock Inc. now owns 150,000 shares of the company’s stock valued at $776,000 after purchasing an additional 19,217 shares during the period. J. Derek Lewis & Associates Inc. purchased a new stake in FG Nexus during the fourth quarter worth about $324,000. Finally, Aristides Capital LLC purchased a new stake in FG Nexus during the fourth quarter worth about $182,000. 3.13% of the stock is owned by institutional investors and hedge funds.

FG Nexus Stock Performance

Shares of FG Nexus stock opened at $7.80 on Friday. FG Nexus has a 1 year low of $4.18 and a 1 year high of $31.80. The company has a market capitalization of $36.72 million, a P/E ratio of -1.12 and a beta of 1.09. The company’s fifty day moving average is $7.66 and its two-hundred day moving average is $6.72.

FG Nexus (NASDAQ:FGNX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($3.07) EPS for the quarter, beating 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 company had revenue of $0.24 million for the quarter. As a group, equities analysts expect that FG Nexus will post -12.62 earnings per share for the current year.

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.