B. Riley Financial Cuts FG Nexus (NASDAQ:FGNX) Price Target to $13.00

FG Nexus (NASDAQ:FGNX) had its target price lowered by B. Riley Financial from $25.00 to $13.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on the company. Litchfield Hills Research initiated coverage on FG Nexus in a research note on Tuesday, November 11th. They issued a “buy” rating and a $60.00 price objective for the company. Wall Street Zen lowered FG Nexus from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FG Nexus in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.50.

FG Nexus Price Performance

Shares of NASDAQ FGNX opened at $7.56 on Monday. FG Nexus has a 12-month low of $6.70 and a 12-month high of $206.25. The company has a market capitalization of $49.59 million, a price-to-earnings ratio of -0.43 and a beta of 0.74. The firm’s 50 day simple moving average is $12.96.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LPL Financial LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth about $31,000. FNY Investment Advisers LLC purchased a new position in FG Nexus during the 4th quarter valued at approximately $68,000. Millennium Management LLC bought a new stake in FG Nexus in the 4th quarter worth approximately $100,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of FG Nexus during the 4th quarter worth approximately $103,000. Finally, Aristides Capital LLC bought a new position in shares of FG Nexus during the 4th quarter valued at approximately $182,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.

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.