AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Update

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 31,670 shares, a decrease of 42.2% from the May 14th total of 54,810 shares. Based on an average daily volume of 101,333 shares, the short-interest ratio is presently 0.3 days. Currently, 1.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On AGM Group

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

AGM Group Trading Down 1.7%

NASDAQ AGMH opened at $1.19 on Friday. The business’s 50-day moving average price is $1.03 and its two-hundred day moving average price is $1.57. AGM Group has a 12 month low of $0.77 and a 12 month high of $18.10.

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.