FG Nexus Inc (NASDAQ:FGNX – Get Free Report) shot up 12.2% during trading on Wednesday . The company traded as high as $6.49 and last traded at $6.36. 155,899 shares changed hands during trading, an increase of 39% from the average session volume of 111,912 shares. The stock had previously closed at $5.67.
Analyst Ratings Changes
FGNX has been the topic of several research analyst reports. Weiss Ratings cut shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial cut their price target 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. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.00.
Read Our Latest Report on FG Nexus
FG Nexus Trading Down 4.8%
FG Nexus (NASDAQ:FGNX – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($5.88) earnings per share for the quarter. The business had revenue of $0.23 million for the quarter. On average, equities analysts predict that FG Nexus Inc will post -25.24 earnings per share for the current fiscal year.
Hedge Funds Weigh In On FG Nexus
Several hedge funds and other institutional investors have recently made changes to their positions in FGNX. United Capital Management of KS Inc. purchased a new stake in FG Nexus during the 4th quarter worth $440,000. J. Derek Lewis & Associates Inc. purchased a new position in FG Nexus in the fourth quarter valued at about $324,000. Everstar Asset Management LLC acquired a new position in shares of FG Nexus during the fourth quarter worth about $1,045,000. FNY Investment Advisers LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth about $68,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of FG Nexus in the fourth quarter worth about $465,000. Institutional investors and hedge funds own 3.13% of the company’s stock.
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.
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