Short Interest in AGM Group Holdings Inc. (NASDAQ:AGMH) Expands By 111.7%

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 67,058 shares, an increase of 111.7% from the May 31st total of 31,670 shares. Based on an average daily volume of 562,493 shares, the short-interest ratio is presently 0.1 days. Currently, 3.2% of the company’s stock are short sold.

AGM Group Stock Performance

AGM Group stock opened at $1.25 on Thursday. The business has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.40. AGM Group has a 52-week low of $0.77 and a 52-week high of $18.10.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of AGM Group in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, AGM Group has an average rating of “Sell” and an average price target of $5.77.

Institutional Trading of AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned about 3.02% of AGM Group at the end of the most recent quarter.

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.