FG Nexus Repurchases Approximately 9.9M Common Shares, Holds 37,594 ETH
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
FG Nexus announced the current status of its common and preferred share buyback programs and ETH holdings. Under the previously announced share purchase programs, through January 20, the Company has repurchased approximately 9.9M shares of its common stock at an average price of approximately $3.24 per share, and approximately 53K shares of its preferred stock at an average price of approximately $24.16 per share. As of January 20, the Company held 37,594 ETH. The Company's total debt outstanding was $1.9M, outstanding shares of common stock were 33.6M, outstanding shares of preferred stock were 0.8M and the net asset value of the Company per share was approximately $3.58 per share.
Analyst Views on FGNX
Wall Street analysts forecast FGNX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FGNX is 8.50 USD with a low forecast of 5.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.010
Low
5.00
Averages
8.50
High
12.00
Current: 3.010
Low
5.00
Averages
8.50
High
12.00
About FGNX
FG Nexus Inc., formerly Fundamental Global Inc., and its subsidiaries engage in diverse business activities including merchant banking, and managed services. Under Merchant Banking segment, the Company manages its merchant banking and asset management activities through FG Management Solutions LLC. Merchant banking services include various strategic, administrative, and regulatory support services to newly formed SPACs. Under managed services segment, it operates Strong Technical Services, Inc., which provides comprehensive managed service offerings, including remote network operating center support, on-site field service, content delivery, installation and other services designed to support cinema and entertainment operators. The Company is also engaged in expanding its existing financial industry segments through its adoption of an Ethereum treasury, staking, and RWA tokenization strategy.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
