FG Nexus Inc (NASDAQ:FGNX) Short Interest Down 23.3% in March

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 297,667 shares, a drop of 23.3% from the March 15th total of 387,944 shares. Based on an average daily volume of 61,751 shares, the days-to-cover ratio is presently 4.8 days. Approximately 4.8% of the company’s shares are sold short.

Institutional Investors Weigh In On FG Nexus

Large investors have recently modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of FG Nexus during the fourth quarter worth $31,000. FNY Investment Advisers LLC bought a new position in FG Nexus during the fourth quarter worth $68,000. Millennium Management LLC bought a new position in FG Nexus during the fourth quarter worth $100,000. Susquehanna Fundamental Investments LLC bought a new position in FG Nexus during the fourth quarter worth $103,000. Finally, Aristides Capital LLC bought a new position in FG Nexus during the fourth quarter worth $182,000. 3.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on FGNX. B. Riley Financial reduced their price objective on shares of FG Nexus from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a research report on Friday, March 27th. Three 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.00.

FG Nexus Stock Up 4.1%

FGNX opened at $5.90 on Wednesday. FG Nexus has a twelve month low of $4.18 and a twelve month high of $206.25. The company has a fifty day moving average of $6.94 and a 200-day moving average of $13.52. The stock has a market cap of $38.53 million, a PE ratio of -0.34 and a beta of 0.86.

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.