Fundamental Global (NASDAQ:FGF) Trading Down 1.6% – Time to Sell?

Fundamental Global Inc. (NASDAQ:FGF) dropped 1.6% on Thursday . The company traded as low as $3.08 and last traded at $3.15. Approximately 623,754 shares changed hands during trading, an increase of 103% from the average daily volume of 306,768 shares. The stock had previously closed at $3.20.

Fundamental Global Stock Down 1.6%

The stock has a market cap of $4.05 million, a P/E ratio of -0.18 and a beta of 0.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $2.99 and its 200-day moving average is $9.94.

Institutional Investors Weigh In On Fundamental Global

An institutional investor recently raised its position in Fundamental Global stock. Everstar Asset Management LLC lifted its holdings in Fundamental Global Inc. (NASDAQ:FGF) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,551 shares of the company’s stock after purchasing an additional 2,560 shares during the period. Fundamental Global comprises 1.0% of Everstar Asset Management LLC’s holdings, making the stock its 21st biggest holding. Everstar Asset Management LLC owned about 7.49% of Fundamental Global worth $1,593,000 as of its most recent SEC filing. 3.13% of the stock is owned by hedge funds and other institutional investors.

About Fundamental Global

Fundamental Global Inc engages in reinsurance, merchant banking, and asset management business. The company offers initial public offering services. It also offers specialty property and casualty reinsurance services. In addition, the company provides investment advisory services. The company was formerly known as Ballantyne Strong, Inc and changed its name to FG Group Holdings Inc in December 2022. Fundamental Global Inc was founded in 1932 and is based in Mooresville, North Carolina.