AGM Group (NASDAQ:AGMH) Shares Down 2% – Time to Sell?

AGM Group Holdings Inc. (NASDAQ:AGMH)’s stock price fell 2% during mid-day trading on Wednesday . The stock traded as low as $0.9570 and last traded at $0.9799. 41,621 shares changed hands during trading, an increase of 6% from the average session volume of 39,270 shares. The stock had previously closed at $1.00.

Wall Street Analysts Forecast Growth

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

AGM Group Trading Down 3.3%

The company has a fifty day simple moving average of $1.42 and a 200 day simple moving average of $2.99.

Hedge Funds Weigh In On 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 the company in its most recent Form 13F filing with the Securities and 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 3.02% of AGM Group as of its most recent filing with the Securities and Exchange Commission.

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.