Everstar Asset Management LLC Invests $1.05 Million in FG Nexus Inc $FGNX

Everstar Asset Management LLC acquired a new position in shares of FG Nexus Inc (NASDAQ:FGNX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 380,000 shares of the company’s stock, valued at approximately $1,045,000. Everstar Asset Management LLC owned 0.96% of FG Nexus as of its most recent SEC filing.

Separately, Wolverine Asset Management LLC acquired a new stake in shares of FG Nexus during the 4th quarter worth approximately $465,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.

FG Nexus Stock Down 7.7%

Shares of FGNX opened at $6.33 on Friday. FG Nexus Inc has a 12-month low of $4.18 and a 12-month high of $206.25. The business’s fifty day moving average is $6.31 and its 200 day moving average is $11.03. The stock has a market cap of $39.63 million, a P/E ratio of 0.33 and a beta of 0.91.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. B. Riley Financial reduced their price objective on shares of FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Wall Street Zen downgraded shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

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.