AGM Group Holdings Inc. (NASDAQ:AGMH) Sees Large Increase in Short Interest

AGM Group Holdings Inc. (NASDAQ:AGMH) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 142,035 shares, an increase of 256.3% from the January 15th total of 39,866 shares. Currently, 6.8% of the shares of the company are sold short. Based on an average daily volume of 631,137 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 631,137 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in AGM Group stock. Bank of America Corp DE acquired a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, AGM Group currently has a consensus rating of “Sell” and an average price target of $5.77.

AGM Group Stock Performance

Shares of NASDAQ:AGMH opened at $1.37 on Friday. The firm’s 50 day moving average is $2.10 and its two-hundred day moving average is $3.18. AGM Group has a 52 week low of $1.09 and a 52 week high of $43.50.

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

AGM Group Company Profile

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.