AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Up 84.6% in December

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 11,264 shares, an increase of 84.6% from the December 15th total of 6,101 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average trading volume of 35,746 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 35,746 shares, the short-interest ratio is currently 0.3 days. Approximately 0.5% of the company’s shares are short sold.

AGM Group Price Performance

NASDAQ:AGMH opened at $1.99 on Thursday. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $3.31. AGM Group has a 12 month low of $1.09 and a 12 month high of $75.00.

AGM Group (NASDAQ:AGMH) last announced its quarterly earnings results on Friday, October 10th. The company reported $1.85 earnings per share (EPS) for the quarter. The company had revenue of $10.15 million for the quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on AGMH shares. Weiss Ratings lowered shares of AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. UBS Group set a $5.77 price target on AGM Group in a research report on Friday, September 19th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $5.77.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE purchased a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned approximately 3.02% of AGM Group as of its most recent SEC filing.

About AGM Group

AGM Group Holdings, Inc (NASDAQ:AGMH) is a blank check company incorporated in Delaware in April 2021. It was formed as a special purpose acquisition company (SPAC) with no commercial operations at inception and no revenues other than interest earned on its trust account balances. The company’s primary objective is to identify and complete a business combination with one or more operating businesses.

In connection with its initial public offering, AGM Group issued units comprising one share of common stock and a fraction of one redeemable warrant, with gross proceeds deposited into a trust account.