Short Interest in FG Nexus Inc (NASDAQ:FGNX) Rises By 19.1%

FG Nexus Inc (NASDAQ:FGNX) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 354,475 shares, an increase of 19.1% from the March 31st total of 297,667 shares. Based on an average daily volume of 101,503 shares, the short-interest ratio is presently 3.5 days. Currently, 5.7% of the company’s shares are short sold.

FG Nexus Stock Performance

Shares of NASDAQ FGNX traded down $0.20 during trading on Friday, reaching $6.54. The stock had a trading volume of 74,768 shares, compared to its average volume of 62,320. FG Nexus has a fifty-two week low of $4.18 and a fifty-two week high of $206.25. The business’s 50-day moving average price is $6.43 and its 200-day moving average price is $11.89. The company has a market cap of $42.05 million, a P/E ratio of -0.37 and a beta of 0.91.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Nexus in a report on Friday, March 27th. B. Riley Financial lowered their price objective on FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.00.

Institutional Investors Weigh In On FG Nexus

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new stake in shares of FG Nexus during the fourth quarter worth $31,000. FNY Investment Advisers LLC acquired a new stake in FG Nexus in the 4th quarter valued at about $68,000. Millennium Management LLC purchased a new position in shares of FG Nexus in the 4th quarter valued at about $100,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of FG Nexus during the fourth quarter worth about $103,000. Finally, Aristides Capital LLC purchased a new stake in shares of FG Nexus during the fourth quarter worth approximately $182,000. 3.13% of the stock is currently owned by institutional investors and hedge funds.

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.