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

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

AGM Group Trading Up 13.4%

Shares of NASDAQ:AGMH opened at $1.35 on Tuesday. The firm’s 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.55. AGM Group has a fifty-two week low of $0.77 and a fifty-two week high of $18.10.

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 position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm 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 SEC.

Analysts Set New Price Targets

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

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.