FG Nexus (NASDAQ:FGNX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of FG Nexus (NASDAQ:FGNX) from a strong sell rating to a sell rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FG Nexus in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.00.

FG Nexus Price Performance

Shares of NASDAQ FGNX opened at $7.11 on Friday. The company has a 50 day simple moving average of $6.16 and a 200 day simple moving average of $7.01. The firm has a market cap of $36.26 million, a PE ratio of 0.56 and a beta of 1.03. FG Nexus has a 1 year low of $4.18 and a 1 year high of $105.00.

FG Nexus (NASDAQ:FGNX) last posted its earnings results on Thursday, May 7th. The company reported ($5.88) EPS for the quarter. FG Nexus had a negative return on equity of 95.68% and a negative net margin of 4,888.86%.The business had revenue of $0.23 million for the quarter. As a group, research analysts anticipate that FG Nexus will post -25.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FG Nexus

A number of hedge funds have recently made changes to their positions in FGNX. LPL Financial LLC bought a new stake in FG Nexus in the fourth quarter valued at approximately $31,000. BlackRock Inc. increased its position in FG Nexus by 14.7% during the 2nd 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. Millennium Management LLC bought a new position in FG Nexus during the 4th quarter worth approximately $100,000. Susquehanna Fundamental Investments LLC bought a new position in FG Nexus during the 4th quarter worth approximately $103,000. Finally, Aristides Capital LLC bought a new position in FG Nexus during the 4th quarter worth approximately $182,000. 3.13% of the stock is currently 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.