FG Nexus Inc (NASDAQ:FGNX) Short Interest Update

FG Nexus Inc (NASDAQ:FGNX) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 311,527 shares, a decrease of 31.9% from the February 12th total of 457,408 shares. Based on an average trading volume of 80,539 shares, the days-to-cover ratio is presently 3.9 days. Currently, 5.0% of the company’s shares are sold short. Currently, 5.0% of the company’s shares are sold short. Based on an average trading volume of 80,539 shares, the days-to-cover ratio is presently 3.9 days.

FG Nexus Stock Up 2.7%

Shares of FG Nexus stock traded up $0.18 during trading on Friday, reaching $6.85. 94,825 shares of the company were exchanged, compared to its average volume of 87,066. FG Nexus has a twelve month low of $6.52 and a twelve month high of $206.25. The business’s 50-day simple moving average is $11.05. The stock has a market cap of $44.90 million, a price-to-earnings ratio of -0.39 and a beta of 0.79.

Hedge Funds Weigh In On FG Nexus

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

Wall Street Analyst Weigh In

FGNX has been the subject of a number of research reports. B. Riley Financial lowered their price objective on FG Nexus from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Nexus in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of FG Nexus from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.50.

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.